This year's prize pool has once again increased, with the winner of the men's and women's singles earning an astonishing $3,400,000.

The total prize pool has increased to a total of $44 million for 2016, with $30 million going towards the men's and women's singles.

2016 Australian Open singles prize money:

Winner: $3,400,000

Finalist: $1,700,000

Semi-finalist: $750,000

Quarter-final: $375,000

Round of 16: $193,000

Round of 32: $108,000

Round of 64: $67,000

Round of 128: 38,500