Australian Open: Record $71 million in prize money for 2020 edition

Players beaten in the earlier rounds of the Australian Open will receive more money this year -- nearly a 20 percent hike.

Australian Open prize money has increased by more than 412 percent, or $57.1 million in the 20 years since 2001, when it was $13.9 million.

Big pay rises are in store for players at January’s Australian Open with organisers on Tuesday announcing a 13.6 percent boost in the total purse to AUD 71 million (USD 49.1 million).

The winners of the men’s and women’s titles at the first Grand Slam of the year will both take home AUD 4.12 million, only a small increase from a year ago.

But players beaten in earlier rounds do much better.

Anyone crashing out in round one will receive AUD 90,000, up 20 percent, while second round players get a 21.9 percent hike to AUD 128,000.

Tournament director Craig Tiley said every round would enjoy double digit percentage increases, bar the finalists.

“This year, as we do every year, we worked with the tours to establish the weighting for prize money increases round-by-round, and we pushed to reward players competing early in the tournament in both singles and doubles,” he said.

“We strongly believe in growing prize money at all levels of the game and we will continue to work with the playing group to create viable career paths in the sport and enable more players to make more money.”

Prize money has increased 61.4 percent over the last five years, broadly in line with other the Grand Slams.

The Australian Open gets underway at Melbourne Park on January 20.