SoundMerch acquires naming rights to Australian Music Prize

The Australian Music Prize (AMP) has locked in a sponsorship deal with music merchandising company SoundMerch, giving it naming rights to the coveted award.

The prestigious $20,000 prize will be handed out in March 2021. More than 50 albums are currently on the shortlist, including records from Tame Impala, Alice Ivy, DMA'S, Gordi, Rolling Blackouts Coastal Fever, The Chats and 5 Seconds of Summer.

The team behind the AMP had previously announced a partnership with SoundMerch, launching an online store to sell branded t-shirts and face masks. 70% of all profits from sales would go to artists via the prize money and marketing for their albums. The partnership came after AMP founder Scott B. Murphy ruled out crowdfunding cash for the award.

"We’ve had a great year and would like to give something back to Australian artists given most of them haven’t had a great year," SoundMerch CEO Tim Everist said in a statement.

"Doing this through the AMP also helps promote a healthy music scene which in turn helps SoundMerch."

Murphy added, "SoundMerch’s support means we can guarantee a cash prize and if our t-shirt sales continue, we may even be able to offer more funds for those artists making great albums."

The finalised list of contenders for the AMP will be announced in December. This year's winner, Sampa The Great, marked the first time an artist had won the award twice.