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Oscars 2023 Prize Money: What Amount do The Winners Get? Do They Even Get Any Money Along With The Trophy? Here’s What We Know!

Oscars 2023 Prize Money Update: The winners and nominees of the Oscars are presented with a goodie bag containing thousands of dollars worth of merchandise. Check the details!

Updated: March 13, 2023 9:13 AM IST

By Entertainment Desk | Edited by Tanya Garg

Oscar Award Prize Money
Oscar Awards Prize Money: How Much Money do The Winners Get Apart From The Trophy? Do They Even Get Anything? Here's What we Know! (Picture Source: Reuters)

Oscars Awards Prize Money: How much money do the winners win? Do they even get anything beyond the shining golden trophy? Here are all your questions answered.

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When it comes to award events, the Oscars are the best of the best. The dress is perfect, there’s a little controversy every now and then, and, of course, the coveted gold trophy. The 95th Academy Awards will be, as always, one of the most anticipated events of the year, with all eyes on Hollywood to see who will take home the golden statues. The nominated filmmakers, actors, scriptwriters, and designers are all hoping to win an Oscar, but aside from the trophy and the fame that comes with it, you might be wondering if there is any monetary prize involved with the big win.

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On the night of the Oscar ceremony, no money is presented to the winners. There is, however, a significant benefit in other ways. Actors who win an Oscar must wait until they sign their next contract to reap the financial benefits of their achievement. The Oscar Effect means that victors are widely sought after by directors, allowing them to demand more money in future projects because the paying audience is more eager to see films in which they star, according to Another boost in revenue comes from the nominated films themselves, with just a mention causing the paying public to hunt them out.

The winners and nominees are then presented with a goodie bag containing thousands of dollars’ worth of merchandise. However, if you believe they can sell their prize to increase their bank account balances, you are mistaken. According to Academy regulations, “award recipients shall not sell or otherwise dispose of the Oscar statuette, nor authorise it to be sold or disposed of by operation of law unless they first propose to sell it to the Academy for the sum of $1.00.”

Watch this space for further updates on Oscars 2023!

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Published Date: March 28, 2022 7:55 AM IST

Updated Date: March 13, 2023 9:13 AM IST