This was originally called the Mercury Music Prize and was established by the British Phonographic Industry as an alternative to the Brit Awards. The first ceremony took place in place in 1992. It's called the Mercury Prize because the first sponsors were Mercury Communications. It's now sponsored by car manufacturers Hyundai and is an annual award in the UK music industry for the best album released in the previous year.
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The prize is open to all types of music, including pop, rock, folk, urban, dance, jazz, blues, electronica and classical and is chosen by an independent panel of musicians, music executives, journalists and other figures in the British music industry..
The organisers have been criticised in the past, though, for not including enough jazz, blues and classical nominees while rock and metal bands often complain about being overlooked or handed ‘token’ nominations.
The winner takes home £20,000 as well as the potential of increased album sales and attention. Each shortlisted artist is given a specially commissioned Albums of the Year Trophy.
2020 Mercury Prize
The nominees for the 2020 Mercury Prize have been announced. The favourite to win the award is Michael Kiwanuka for his album 'Kiwanuka.' It's an open market though with other strong contenders being Stormyz for his 'Heavy is the Head' album and Kano for 'Hoodies All Summer.' The winner of the award will be named on 24 September.
Below is the full list of nominees
Dark Matter by Moses Boyd
Deep Down Happy by Sports Team
Every Bad by Porridge Radio
Fibs - Anna Meredith
Future Nostalgia - Dua Lipa
Heavy is the Head - Stormyz
Hoodies All Summer released by Kano
Now I'm Feeling Now - Charli XCX
Kiwanuka by Michael Kiwanuka
Seeking Thrills released by Georgia
Song for our Daughter - Laura Marling
Spook the Herd - Lanterns on the Lake
What can I bet on?
As we approach September the bookies will release a list of albums thought to be up for the Mercury Prize and you can bet on the eventual winner. Once the 12 nominees have been officially realised those odds will change slightly.
Previous Mercury Prize winners
2019: Dave
2018: Wolf Alice
2017: Sampha
2016: Skepta
2015: Benjamin Clementine
2014: Young Fathers
2013: James Blake
2012: Alt.J
2011: PJ Harvey (thus becoming the first two-time winner of the prize)
2010: The XX
2009: Speech Details
2008: Elbow
2007: Klaxons
2006: Arctic Monkeys
2005: Antony and the Johnsons
2004: Franz Ferdinand
2003: Dizzy Rascal
2002: Ms Dynamite
2001: PJ Harvey
2000: Badly Drawn Boy
1999: Talvin Singh
1998: Gomez
1997: Roni Size
1996: Pulp
1994: M People
1995: Portishead
1992: Primal Scream
1993: Suede
So as you can see from the list of previous winners, this isn't an award One Direction are going to be winning any time soon. Not all the winners have gone on to establish successful careers in the music business and Damon Albarn from Gorillaz said in 2001 winning the award is "like carrying a dead albatross round your neck for eternity." His comments were made after Gorillaz had been nominated that year and asked to be withdrawn from the shortlist. it's also not an award Radiohead are great fans of. They have been nominated eight times and never won the award. That's the record number of nominations alongside PJ Harvey, who is also the only female performer to have won the award.