Last night at the BookExpo America launch party, Kirkus Reviews—one of the largest tastemakers in the book world—announced it had created three new literary awards to be presented annually starting this year. The Kirkus Prize will be awarded for one work of fiction, one of non-fiction, and one piece of young readers’ literature; each prize will come with a $50,000 award for the work’s author, and each winner will be chosen by a panel of jurists (each of whom are to receive $1,000 for their service). Though these amounts still aren’t very much in the larger sense of praising art with reward, literary awards are notable for their especially modest sums. The 2014 winners will be announced at a ceremony October 23 in Austin, Texas.