WHITE PLAINS, N.Y. — This year's U.S. Open men's and women's singles champions will each earn a record $3.5 million, up from $3.3 million in 2015.

The U.S. Tennis Association announced Tuesday the total tournament purse will be $46.3 million, a $4 million increase from a year ago. The U.S. Open has the largest purse of the four majors.

The payout for each round in singles is rising by an average of 10 per cent. The runners-up will receive $1.75 million while a player who loses in the first round will make $43,300. The winning doubles teams get $625,000.

The year's last Grand Slam tournament starts Aug. 29 at Flushing Meadows.