The British Academy Book Prize supports writers financially through prize money and through increased book sales, resulting from promotion.
All shortlisted authors receive £1,000 in prize money. The winner of the Prize will receive an additional £25,000.
The Prize provides a platform for discussion and debate on which to stimulate dialogue around the important global issues of the day. The shortlist and winning book are promoted through a programme of events, in addition to media and retail partnerships - extending, in many cases, over several years. Examples of events held at the British Academy's home in London and across the UK throughout the year include:
- January - Book Prize Celebration Event: a public event with the current winner of the Book Prize to mark the re-opening of nominations.
- October - Shortlist Event: a public celebration of the shortlist, involving a conversation between the authors and an eminent journalist.
- October - Winner Announcement Event: the public announcement of the winner of the Book Prize.
- Literary Festivals: the British Academy sponsors the participation of previously shortlisted authors and winners of the Book Prize at major UK literary festivals (including Cambridge Literary Festival, Cheltenham Literature Festival, Edinburgh International Book Festival, Hay Festival and Oxford Literature Festival).