Our fees are changing on 4 March 2023. Learn more.


Share

Grand Slam

With a total prize pool of A$76,500,000 this year, it’s no wonder the Australian Open is one of the biggest annual events in Australia. Let’s take a look at some of the staggering figures surrounding the first of the four Grand Slam tennis tournaments.

Held every January in Melbourne, the Australian Open brings the likes of Rafael Nadal, Novak Djokovic, Naomi Osaka and pretty much all the other world-renowned tennis champions into the country. 

The Australian Open comprises several smaller tournaments including doubles, juniors including wheelchair, legends and exhibition events. Hundreds of players compete over the course of two weeks, with the overall champions bringing home millions – such as the record-breaking A$2.975m prize for the singles event

It’s no surprise then that the Australian Open gathers an enormous audience. In 2022, over 500,000 spectators travelled from all parts of the world to Melbourne, creating the equivalent of 270,000 hotel room nights. The event was also the highest-rated broadcast in the country, bringing in over 4.26 million viewers. With all this hustle and bustle, a massive A$267.3m in economic benefit was generated last year alone.

In the past 10 years, the Australian Open contributed a total of A$2.71b to the Victorian government. Can you imagine how much the four Grand Slam tournaments bring altogether?

No wonder the Australian government is willing to host the tennis tournament. Under Tennis Australia, the management and development of tennis and its Australian players as well as events including the Australian Open are managed in a single organisation. 

And guess what? Tennis Australia actually releases annual reports of its financial statements. Yes, it is a for-profit organisation – last year, it made a net profit of A$4.66m. The government also helped keep it alive during the pandemic – Tennis Australia received A$6.5m in COVID-19 support payments back in 2020.

Corporations naturally compete for the revenue the event brings. Nine Network ($NEC) for example, signed a A$425m deal to have domestic broadcast rights to the Australian Open. Kia, Emirates, ANZ ($ANZ), Mastercard ($MA) and several others have also signed up to be event sponsors. 

As an individual, will you also be watching the event? Take note: visitors spend an average of A$259 a day to be part of the Australian Open!



Stake logo
Download Stake
App Store logo
Google Play logo

Stakeshop Pty Ltd is registered as an overseas company in New Zealand (NZBN: 9429047452152), and is registered as a Financial Service Provider under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (No. FSP774414). We hold a full licence issued by the Financial Markets Authority to provide a financial advice service under the Financial Markets Conduct Act 2013. However, the content on this website has not been prepared to take into account any of your individual objectives, financial situation or needs. To the extent you require further information about the relevant New Zealand legislation that may apply, or require specific advice, please contact your legal and/or financial adviser (as appropriate). The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Terms & Conditions, Privacy Policy, Financial Advice Disclosure and Disclaimers before deciding to use or invest on Stake. By using the Stake website or service in any way, you agree to our Privacy Policy and Terms & Conditions All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake is a registered trademark under class 36 (New Zealand).

Copyright © 2023 Stake. All rights reserved.