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The prize for the winning album will be reduced to $30,000, rather than the $50,000 awarded to recent winners, but will be supplemented with a new $10,000 SOCAN Polaris Song Prize to honour individual songs.[2] This new award replaces the SOCAN Songwriting Prize, which has been dormant since 2023.[3]
The prize committee is also launching the Polaris Festival, a series of musical events highlighting the nominees in the weeks leading up to the award ceremony, with further details to be announced at a later date.[2]
Nominees for the Slaight Family Polaris Heritage Prize, an award to honour classic Canadian albums released before the creation of the Polaris Prize, will be announced at the main Polaris Prize ceremony, with the final award announcement scheduled for October.
