The Australian Open’s tournament director, Craig Tiley, has declared an impressive 13% rise in prize money for 2024, compared to the event’s previous edition. The total prize pool has escalated to 86.5 million Australian dollars (equivalent to approximately $58.8 million).
Significant raises extend across every round, but the most substantial boosts in prize money have been directed towards the qualifying rounds and the early stages of both singles and doubles competitions at Melbourne Park.
“It is critical to the continued success of the Australian Open that we ensure that the best players in the world are compensated appropriately as we know this allows players to invest in their own careers and in many cases, helps set them up for success throughout the year,” said Tiley.
Notably, the first round qualifiers will witness a 20% surge, now standing at $21,250, while first-round doubles teams will receive $24,500, a substantial 16% increase. Main draw singles players in the first round will now take home $81,500, up by 13%. For those progressing to the second round, the reward escalates to $122,000, mirroring the same percentage increase.
Semifinalists will now earn $673,000, marking a commendable 7% rise. The cherry on top, the singles champions, will claim a staggering $2.38 million (3.15 million Australian dollars).
Notably, this exponential increase becomes even more apparent when looking back over the last two decades; since 2005, the prize money has more than quadrupled. Moreover, within a decade, from 2015 to the present, the prize money has more than doubled.
The US Open leads Grand Slams when it comes to total prize money. In 2023, the major in New York awarded $65 million in total player compensation, over 8% increase from the previous year’s $60 million. (source: Australian Open)
