The Money Value Behind A Grammy
This Sunday, artists, producers and directors alike, are getting ready for the 54th annual Grammy Awards in Los Angeles. As you watch them parade into the ceremony in the most outrageous and expensive outfits you’ve ever seen, they’re all crossing their fingers hoping that this year’s work will earn them the prestigious award. Winning a Grammy is not just about the recognition–it’s the bonus paycheck that comes with that recognition. Forbes reports that Grammy winning performers and producer see an increase of at least 55 percent in concert ticket sales and producer fees in the following year.
Take the outspoken and vivacious singer Rihanna. Her fee doubled after she won her first Grammy in 2008. Her fee doubled from $150,000 to $300,000. Bruno Mars saw a 55 percent increase from his 2011 Grammy win from $130,000 to $202,000. Pop country princess Taylor Swift saw an even bigger gain of 380 percent with her 2010 Grammy win, from $125,000 to $600,000.
As rapper and producer David Banner explains it, “it puts another level of mystique on your brand.” Banner’s won a Grammy for his work on Lil Wayne’s Tha Carter III, and his extra level of mystique earned him $100,000– a 50 percent increase for his producer fees. The Grammy win has also helped Banner earn gigs outside of the rap world. He has since taken on high paying movie and commercial producing jobs.
“They don’t say that I’m a Grammy Award winner for rap. A Grammy is a Grammy,” he tells Forbes.
Some of the biggest beneficiaries of the “Grammy Boost” are the guys strictly behind the scenes. Music video director David Rousseau knows firsthand that songwriters and producer suddenly find themselves with a 100-150 percent pay boost. For instance, Jim Jonsin, the producer of Lil Wayne’s hit “Lollipop,” saw a 90 percent increase.
This year some of the big names up for a Grammy are the sensationally talented Adele with six nominations and rap princess Nicki Minaj.