Golden Globes: How much does the award cost, how much does the winner get

This year the Golden Globe Awards ceremony will be held on January 11 with hopes of glamour returning.

The Golden Globe Awards is an annual ceremony held since 1944 to honour artists, professionals and their work in both American and international film and television.

Usually, the ceremony is held in January and holds a pivotal place in the film industry's award season.

The awards are presented by the Hollywood Foreign Press Association (HFPA), an organisation representing international journalists who report on the American entertainment industry.

Entertainment-related charity work and scholarships are funded by the revenue generated from this award show.

This year the award ceremony is being held on January 11 with hopes of glamour returning.

According to a report by AS, a Spanish publication, the winner of the Golden Globe does not receive an instant financial gain.

Though there's no monetary win, winning the award does not go in vain as there is always the probablity of a film recognised in the Golden Globes going on to do well throughout the awards season. Furthemore, the recognition at this ceremony can also translate to box office gains for the movie.

The Golden Globe statuettes are manufactured at a factory at Gove in Oklamhoma, by Society Awards and each statuette costs about $800.

HFPA said that the awards were redesigned to make the statues stronger and more visually appealing in 2007, according to a Tulsa World report.

Made of marble and zinc, the awards are plated in 24-karat gold.

This year, the Golden Globe has a solid lineup in terms of nominations. Christopher Nolan's Oppenheimer and veteran filmmaker Martin Scorsese's Killers of the Flower Moon are among the movies contending for the best motion picture (drama) category.

Both Nolan and Scorsese are also vying for the best director award this time, along with Greta Gerwig who wowed the world with her Margot Robbie-starrer Barbie.