der Award
award
A prize or honor given for a special achievement, especially in the fields of film, music, art, or business.
Die Schauspielerin hat für ihre Rolle einen wichtigen Award gewonnen.
The actress won an important award for her role.

award
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award
A prize or honor given for a special achievement, especially in the fields of film, music, art, or business.
Die Schauspielerin hat für ihre Rolle einen wichtigen Award gewonnen.
The actress won an important award for her role.

'Award' is a word from English that is firmly established in German. It is used especially in the fields of film, music, media, and business.
Der Film erhielt bei der Verleihung mehrere Awards.
The film received several awards at the ceremony.
Common verbs combined with 'Award' are: 'einen Award gewinnen' (to win an award), 'erhalten' (to receive), or 'bekommen' (to get). A jury can 'einen Award verleihen' (present/give an award).
Die Band wurde mit einem wichtigen Musik-Award ausgezeichnet.
The band was honored with an important music award.
'Award' is often used as the second part of compound nouns to specify the type of distinction. Examples include 'Film-Award' (film award), 'Design-Award' (design award), or 'Marketing-Award' (marketing award).
Das Unternehmen gewann einen Innovations-Award für sein neues Produkt.
The company won an innovation award for its new product.
price / prize
'der Preis' and 'der Award' can both mean an award for a special achievement. 'Preis' is the general German word and fits competitions, sports, school, or culture. 'Award' sounds more modern and is used especially often in film, music, art, or business. Learners may confuse the words because an Award is often simply a Preis. But the important point is: 'Preis' can also mean the amount of money when buying something; 'Award' cannot.

Der Film hat gestern einen wichtigen Award gewonnen.
The film won an important award yesterday.
Lisa hat beim Schreibwettbewerb den ersten Preis bekommen.
Lisa received first prize in the writing competition.