Oscars 2024: What Prize Money Do The Winners Get And How Much Does The Academy Award Trophy Cost?

Oscars 2024, or the 96th Academy Awards, represent the pinnacle of the cinematic world. The Oscars isn't just a glamorous night of name and fame for cinephiles. It's also a celebration of an art form from every corner of the world.

More than just shiny trophies, the Oscars stand as the most prestigious awards in the film world. Winning an Oscar isn't just a pat on the back. It's a golden ticket to millions in box office and streaming earnings. And to get those prized statuettes, studios aren't afraid to break the bank, pouring hefty sums into promotions and top-notch production. It's all about chasing that Hollywood dream and etching your name in cinematic history.

While Christopher Nolan's Oppenheimer dominated the nominations, Emma Stone starrer, Poor Things also managed to make its mark in multiple categories.

What does 'getting an Oscar' actually mean? Is there any cash prize associated with it?

The golden statuette, crafted at the Polich Tallix fine art foundry in New York's Hudson Valley, is made of solid bronze and plated in 24-karat-gold, and is 13 and a half inches tall. While the trophy itself does not have any value, according to Oscar regulations, winners must offer to sell their statuette to the Academy for $1 before selling it elsewhere.

While Oscar winners, as per reports, do not receive direct cash prizes from the Academy, there is another value tag attached to the award. The triumphs of the Academy Awards often translate into heightened financial status and enhanced reputation over time. Many also term this as the 'Oscar Effect', this phenomenon encompasses the myriad outcomes experienced by Oscar laureates.

However, what comes as a distinction here is that whether someone clinches the prize or not, there is a 'Everyone Wins' gift bag, for every nominee. These swag bags are bursting with luxury goodies, from exotic vacations to high-end cosmetics and more. Last year's contenders received vouchers for a $12,000 arm liposuction procedure and an indulgent three-night stay at a lavish Canadian retreat, among other extravagant offerings. As per a report by Deseret News, the bags were so overflowing with treasures that nominees needed two suitcases to carry them all, each package valued at a staggering $125,000.

What's in the Oscars' gift bag for this year?

Yahoo News has revealed the items of this year's Oscars goodie bags, with contributions from 70 companies. These companies reportedly paid around $4,000 (roughly Rs 3,30,835) each to have their products featured for the nominees. 

The Oscars goodie bag boasts some impressive offerings for this year, including three luxurious vacations, a $50,000 Swiss chalet retreat (about Rs 41 lakh), a holistic wellness retreat near Hollywood, and a three-night stay at Saint-Barth Paradise in the Caribbean. According to a report by the Guardian, the bag is also packed with health and grooming products, like skincare products, liver pills, topical glutathione, and microneedling treatments. 

Here is a list of top winners-

Best directing- Christopher Nolan (Oppenheimer) 

Best film- Oppenheimer

Best actor in a leading role- Cillian Murphy (Oppenheimer)

Best actress in a leading role- Emma Stone (Poor Things) 

Best actor in a supporting role- Robert Downey Jr. (Oppenheimer) 

Best actress in a supporting role- Da’Vine Joy Randolph (The Holdovers)

Best live-action short film- Anatomy of a Fall

Best live action short film- The Wonderful Story of Henry Sugar

Best original score - Ludwig Göransson (Oppenheimer)