This year’s Australian Open boasts a record-breaking prize pool of £55.5 million, with the champions of the men’s and women’s singles set to receive £2.1 million each. Despite this significant increase of 16 percent from last year’s total, top players have expressed disappointment over the distribution of earnings.
In 2023, winners Jannik Sinner and Madison Keys each took home £1.76 million. The new figures represent a 19 percent increase for champions, reflecting Tennis Australia’s commitment to enhancing player compensation. The overall prize money increase comes as discussions continue about the allocation of revenue in professional tennis, with leading players advocating for a greater share of earnings from tournaments.
Craig Tiley, CEO of Tennis Australia, affirmed this commitment, stating, “This 16 percent increase demonstrates our commitment to supporting tennis careers at every level. From boosting qualifying prize money by 55 percent since 2023 to enhancing player benefits, we’re ensuring professional tennis is sustainable for all competitors.”
Round-by-Round Breakdown
The prize money distribution for the Australian Open 2024 is as follows:
– Winner: £2.1 million (AUD $4.15 million)
– Runner-up: £1.1 million (AUD $2.15 million)
– Semi-finals: £622,000 (AUD $1.25 million)
– Quarter-finals: £373,000 (AUD $750,000)
– Fourth round: £239,000 (AUD $480,000)
– Third round: £163,000 (AUD $327,750)
– Second round: £112,000 (AUD $225,000)
– First round: £75,000 (AUD $150,000)
In comparison, the prize money for future grand slams is projected as follows: the US Open will offer £3.7 million (2025), Wimbledon £3 million (2025), and Roland Garros £2.13 million (2025).
The increase in prize money at the Australian Open is not just a financial boost; it comes amidst calls from elite players for a more equitable distribution of tournament revenues. They argue that the current ratio of revenue to prize money is too low and should align closer to the 22 percent found in combined ATP and WTA events.
Broadcast Information
Fans can follow the action of the Australian Open 2024, which will be broadcast live on TNT Sports in the UK and available online via Discovery+. In the United States, coverage will be provided by ESPN and the Tennis Channel.
As the tournament approaches, the focus will remain on both the thrilling matches and the financial implications for players competing at the highest level. While the record prize money is a welcome development, the ongoing discussions regarding revenue sharing highlight the evolving landscape of professional tennis.
