The USTA today announced a $4 million prize money increase for the 2015 US Open, which will bring the total purse for the tournament to a record $42.3 million, a 10.5 percent increase over last year’s US Open.

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Men’s and women’s singles champions will earn a record $3.3 million, the largest payout in US Open history.

At Wimbledon, singles winners Novak Djokovic and Serena Williams each earned 1.88 million pounds, which equates to approximately $2.94 million at the current exchange rate.

According to the USTA each round of the singles competition will see double-digit percentage increases over last year’s record payouts, with the minimum increase of 10 percent for the champions and up to a 14.4 percent increase in the round of 32.

Additionally, men’s and women’s doubles champions will earn $570,000, the highest in US Open history. Doubles prize money has been increased by 8.4 percent, overall.

In the last three years, US Open main draw prize money has increased by 67 percent.

“We continue our commitment to ensure that the US Open offers one of the most lucrative purses in all of sports,” said USTA President Katrina Adams. “As we have stated, total player compensation at the US Open will reach $50 million by 2017.” This year’s US Open is scheduled for August 31 through September 13, with the US Open Qualifying Tournament beginning on August 25.