The United States Tennis Association reported a revenue of $472 million for the 2022 edition of the US Open. This is significantly higher than the $440 million Wimbledon reported for its 2022 tournament. The US Open’s massive revenue flow cements its status as the biggest Grand Slam event.
The estimated revenue for the 2023 US Open is reportedly more than $500 million. Crossing the half-billion mark is a great achievement, especially since it signifies the constant rise of revenue since a massive dip in 2020 due to the COVID-19 pandemic.
US Open revenue flow compared with Wimbledon
The 2022 US Open brought in $472 million in revenue, $32 million more than the next highest-earning Grand Slam last year, the Wimbledon. To contextualize how huge these two events are, the Australian Open generated $405 million across two years (2021 and 2022). The French Open, meanwhile, generates $250 million per year on average. The numbers make it clear how big the US Open and Wimbledon are.
Wimbledon generated $440 million last year, recording a profit of nearly $60 million. The British Grand Slam reportedly has the means to drive revenue beyond the coveted half-billion-dollar mark, but instead chooses to maintain the exclusivity of the event. It is the Grand Slam with the lowest audience capacity, but the All England Club has remained staunch in their refusal to increase crowd capacity. 515, 164 people attended Wimbledon last year across two weeks, much less than the 888,044 at the 2022 US Open.
The American Grand Slam does not hold back from creating a festive atmosphere, throwing its doors open to a huge number of fans and engaging them in various events. The sheer scale of the tournament in New York increases their revenue beyond what Wimbledon makes. The overall economic impact the Grand Slam has on New York is reportedly more than $1 billion.
The 2023 US Open is set to offer $65 million in cumulative prize money with Wimbledon’s $57 million prize pool coming in second. The USTA has 24 sponsors on board, including Rolex, Cadillac, and Polo Ralph Lauren. Wimbledon, on the other hand, has only 14. The multiple income streams have seen the US Open consolidate its spot as the world’s richest tennis event.
Massive prize purse up for grabs at Flushing Meadows in 2023
The enormous income generated by the US Open allows the USTA to put up a rich prize pool for the taking. The total remuneration for players will be a whopping $65 million at this year’s edition. The prize money for winners is understandably generous, but the talking point is the reward for players who exit in the first round. The compensation for a first-round exit in singles is a cool $81,000, which could prove to be very beneficial for lower-ranked players.
2023 marks 50 years since the US Open revolutionized wages in tennis, becoming the first event to hand men and women equal prize money. All Grand Slams have followed suit since. The WTA and ATP tours are yet to catch up, but a plan for equal pay has recently been announced. The 2023 US Open is rewarding the men’s and women’s singles champions with $3 million each. The runner-ups will take home a paycheck for half that amount while doubles winners will earn $700,000.
