The opening grand slam of the year, the Australian Open, sees another 10 per cent increase in the total prize pot.
It takes the overall pool to $60.5m (AUD) (£34.38m) and will earn the men and women’s winners $4.5m (£2.56m) each – an increase of £24,000.
Finalists will receive a cheque for £1.42m, while semi-finalists will collect £710,000.
Players who suffer a first-round exit will earn £28,410, which is down £490 on last year’s figure.
Roger Federer will defend the men’s singles title and bid for a seventh Australian Open and 21st major overall.