Record $111.5 Million Prize Pool Announced for Australian Open
The 2024 Australian Open has set a new benchmark with a historic prize pool of $111.5 million, marking a substantial increase from $96.5 million in 2023. This total reflects a 16 percent rise in overall prize money, highlighting the tournament’s commitment to enhancing player compensation.
Details of the Prize Money Increase
The increase in financial rewards is part of Tennis Australia’s broader strategy to support players at every level. Craig Tiley, CEO of Tennis Australia, emphasized the significance of this uplift, stating, “This 16 percent increase demonstrates our commitment to supporting tennis careers at every level.”
Major Highlights
- Prize money for qualifying rounds increased by 16 percent.
- Winner of the singles competition will receive $4.15 million, a 19 percent increase.
- Runner-up players will earn $2.15 million, reflecting a 13 percent upswing.
- Significant boosts for semifinalists and quarterfinalists as well.
Comprehensive Breakdown of Prize Money
| Round | Prize Money | Increase (%) |
|---|---|---|
| Winner | $4.15M | +19% |
| Runner-up | $2.15M | +13% |
| Semifinalists | $1.25M | +14% |
| Quarterfinalists | $750K | +13% |
| Fourth round | $480K | +14% |
| Third round | $327.75K | +13% |
| Second round | $225K | +13% |
| First round | $150K | +14% |
| Qualifying Q3 | $83.5K | +16% |
| Qualifying Q2 | $57K | +16% |
| Qualifying Q1 | $40.5K | +16% |
Expanded Player Support Initiatives
Tennis Australia also introduced enhanced support measures for players. Travel assistance for competitors has increased by 67 percent, alongside improvements in welfare initiatives. The organization has committed $135 million to their Summer of Tennis investment, reinforcing its pledge to develop the sport.
Tiles stated, “By supporting players at all levels, we’re building deeper talent pools and more compelling storylines for fans.” This investment aims to secure the future of tennis, fostering its growth and sustainability.
