Polaris Music Prize
The Polaris Music Prize was founded by Steve Jordan in 2006 and is awarded annually to the Canadian artist or group who creates the best full-length album. The mandate of the Polaris Music Prize has been likened to that of the UK’s Mercury Prize; all genres of contemporary music are eligible, and albums are judged on artistic merit rather than on commercial success. The winner is announced at the Polaris Music Prize Gala held each September in Toronto . The original cash prize of $20,000 was increased to $30,000 in 2011 and to $50,000 in 2015. Shortlisted artists have often performed at the Gala, which is broadcast live on CBC Radio 3 and YouTube.