Nathy Peluso accepts her award at the Latin Grammy 2023 in Seville. Portal/Jon Nazca
The 24th edition of most important event of Latin American music has settled in the Andalusian capital this year. The city of Seville has therefore been working on the final details for days Don’t let anything fail at the Latin Grammy Gala. With this in mind, musicians, singers, technicians and producers have come together to celebrate the importance of Latin music. And although the names of the winners in the main categories of this meeting are still unknown, the identity of the winners has already been revealed. first winners.
This year was unique for this ceremony. It’s the first time that the awards come from the United States and to honor the identity of the city that has been welcoming artists for days, the Latin Recording Academy has committed to giving a special place to the flamenco genre in the awards ceremony. At the same time it is Latin Grammy They have attracted influencers, singers, artists and important cultural figures to Seville. The city’s economic boom is obvious. One of the most frequently asked questions about the ceremony now concerns how much money each artist will earn from winning the prize.
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Milena Smit, on the red carpet at the 2023 Latin Grammy Gala in Seville (Helena Margarit)
It is common for prizes of this magnitude to see those who make it receive financial compensation. However, this is not the case at the Latin Grammys. The gramophone that the winners receive is accompanied by the creepy figure Zero euros.
However, the awards linked to these awards, the Grammys, do not provide any additional compensation to the winners. In this way, the uniqueness that the Latin Gramy enjoys is due to the symbolism of these awards. The golden gramophone is a recognition of prestige Professional that goes beyond the material.
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Although there is no immediate financial reward for winning this award, award-winning artists do experience a positive impact on their finances. This phenomenon is called the Grammy bounce effect or rebound effect. According to him, each artist’s sales are different experienced a significant increase after receiving the prestigious Golden Gramophone. Producer David Banner revealed to Forbes magazine that his income doubled after winning a Grammy, from $50,000 to a staggering $100,000. In addition, it also increases visibility on social networks and improves the singers’ brand image. In the meantime, Juan Luis Guerra“Residente”, Juanes, Eduardo Cabra or Alejandro Sanz are some of the artists who illustrate the impact that winning an award of these characteristics has on an artist’s career.