About the only music prize in Australia that matters (because the winner receives cold hard cash), the annual AMP (Australian Music Prize) shortlist has been announced for 2011. And this time around, high-profile artists dominate.

Abbe May, Adalita, Boy & Bear, Gotye, Gurrumul, Jack Ladder, Kimbra, The Jezabels and The Middle East (R.I.P) are all in contention for the $30,000 cash prize, care of the PPCA. These records have been judged by the 42-person strong media panel as products of "outstanding quality and creativity." The releases by Boy & Bear, Gotye, Gurrumul and Kimbra have already dominated the recent ARIA Awards, while The Jezabels, Adalita and The Middle East were also nominated.

(Note: trainspotters will shrill that Kimbra Johnson is a New Zealander. The AMP definition of entrants eligibility for the prize, states that "you are only valid as an entrant if you are Australian." The caveat however, is that they define "Australian" as "being an Australian citizen/passport holder" OR "currently residing in Australia and have been since at least January 1st, 2010." Kimbra Johnson falls under the latter category. As does The Tea Party's Jeff Martin. And the Violent Femmes' Brian Ritchie. And The Dandy Warhols' Brent DeBoer.)

Australian Music Prize Director Scott B. Murphy says that "2011 was a big year for Australian artist album releases," and that the 7th AMP had a "long list twice as long as most of the previous prizes highlighting how many great albums were released in this country." Supposedly, The Panics, Oh Mercy and The Orbweavers just missed out, while other popular entries with the judges (though not popular enough) came from Skipping Girl Vinegar, Oscar & Martin, Ben Salter, Big Scary, Eagle & The Worm, Grace Woodroofe, Husky, Leader Cheetah, Phrase, Teeth & Tongue, Josh Pyke and Drapht.

The winner of the award will be announced on Thursday, March 18th from midday, at a forum including US Rolling Stone editor David Fricke.

Cloud Control were the recipients of last year's award for Bliss Release, while The Holidays took home the $15,000 Red Bull Award for Best Debut Release, for their album Post Paradise.

Our pick for the winner in 2011? Adalita's a shoo-in.