Oscars 2024: Why Is The Trophy Worth Just $1? Do Winners Get A Prize Money?
While most of us must have heard about Oscars and are eagerly looking forward to who all turn out to be this year¡¯s winners, do you have any idea about how much prize money the Oscars winners get? Can you guess? Well, let's reveal this surprising fact to you!
One of the most prestigious movie awards, the Oscars, are all set to take place on 11th march 2024. The nomination list for Oscars 2024 has already been announced, and we are less than two months away from knowing the 96th Academy Awards winners.
While most of us must have heard about Oscars and are eagerly looking forward to who all turn out to be this year¡¯s winners, do you have any idea about how much prize money the Oscars winners get? Can you guess? Well, let's reveal this surprising fact to you!
What Is The Prize Money Oscar Winners Get?
oscar winner prize money/getty
Given the popularity of Oscars, one might wonder how big the prize money the winners might be getting, right? Maybe a figure as high as $1 million or $10 million? Well, the answer is set to surprise you. Oscar winners reportedly get no prize money. Yes, that beautiful golden trophy is indeed a priceless possession, but besides that, no prize money is given to the winners.
How Oscar Winners Earn More Despite Zero Prize Money?
However, even though there is no direct financial gain associated with Oscar awards, the winners do get a lot of recognition and prestige that is associated with Oscar prizes. And that eventually converts into an indirect financial gain, as various studies carried out over the years have indicated that thanks to the fame that the winners of Oscar winners get, they tend to charge about 20% more money right from their next project, and ultimately their income gets increased.
Winning an Oscar also means the winners get more visibility in the media and many brands may also approach them for endorsements. Again, which translates into more money coming in towards the winners.
oscar prize money/marca
Also Read: How Much Do Guinness World Record Holders Get Paid?
Why Is The Oscar Trophy Worth Just $1?
As per the rules of 'Academy of Motion Picture Arts and Sciences', which gives out the Oscars, winners are prevented from profiting off from the sale of their Oscar winner trophies. As per a CNBC report, winners are not allowed to sell or otherwise dispose of the Oscar statuette. without first offering to sell it to the Academy for $1. Also, in case an Oscar winner passes away and the award gets passed down to his/her children, those heirs need to abide by the same rules. So they cannot sell or just give away the statuette.
Why the $1 price, you may ask? The reason is that the aim is to not put a 'price' on the trophy, and instead preserve the integrity of the Oscar symbol.
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