The Ernst von Siemens Music Prize is an annual music prize given by the Bayerische Akademie der Schönen Künste on behalf of the Ernst von Siemens Musikstiftung, established in 1972. The foundation was established by Ernst von Siemens (1903–1990) and promotes contemporary music. The prize honors a composer, performer, or musicologist who has made a distinguished contribution to the world of music. In addition to the main prize, other prizes are also given. The total prize money given is currently €3.5 million, with the winner of the main prize receiving €250,000. The prize is sometimes known as "the Nobel Prize of music".