The 2024 Australian Open is set to feature record prize money, with the champions of the men’s and women’s singles competitions each receiving £2.1 million (approximately AUD $4.15 million). Despite this significant increase, many top players have expressed disappointment regarding the distribution of tournament revenues.
The total prize pool has risen by 16 percent from the previous year, amounting to £55.5 million. Last year, champions Jannik Sinner and Madison Keys took home £1.76 million each. However, although the increase reflects a commitment to player compensation, leading players are advocating for a greater share of overall revenues, especially in light of rising costs in professional tennis.
Prominent competitors have voiced their concerns through letters to the Grand Slam organising bodies, arguing that the ratio of revenue to prize money is disproportionately low. They have called for a shift closer to the 22 percent ratio seen in combined events like those on the ATP and WTA Tours.
Craig Tiley, CEO of Tennis Australia, responded to these concerns, 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.”
The breakdown of prize money for the singles events 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)
For reference, the expected prize money for the Grand Slam events in 2025 includes £3.7 million for the US Open, £3 million for Wimbledon, and £2.13 million for Roland Garros.
The tournament will be broadcast live on TNT Sports in the UK and on ESPN and the Tennis Channel in the United States. As the Australian Open approaches, the ongoing dialogue about player compensation continues to unfold, highlighting the evolving landscape of professional tennis.
