LPGA Tour Sees a 76% Increase in Prize Money Over 2018
Every Monday, I write a newsletter breaking down the business in golf. Welcome to the 105 new Perfect Putt members who have joined us since our last newsletter. Join 8,024 intelligent and curious golfers by subscribing below.
Today At A Glance:
From 2000 to 2022, four golfers made over $3 million, and three made over $3 million in 2023. The LPGA Tour has seen significant purse increases since 2018 in both non-major and major events. Today’s newsletter breaks down the LPGA Tours purse growth.
Read Time: 5 minutes.
Today’s newsletter is powered by LoopGolf.
If you play with your friends for money on the golf course — you need to check out the LoopGolf App.
LoopGolf is golf’s first on-course, real-money betting app. And it is simple to get started. Just create an account and connect your card to your LoopGolf wallet. You are ready to roll.
LoopGolf integrates with your USGA handicap and dots your holes. It keeps track of your group’s score and where the money is at.
Download the app — it’s completely free to sign up. After you get set up — hit me with a follow @Jared. I will shoot you a follow back.
Hey Golfers —
The LPGA Tour continues to get better from an earnings standpoint. From 2000 to 2022 — four LPGA Tour golfers made over $3 million in a season. This year alone — three golfers made over $3 million.
Lilia Vu — $3.5 million
Amy Yang — $3.16 million
Allisen Corpuz — $3.1 million
The LPGA Tour made history with 28 golfers making over $1 million in 2023 — 14.5% of golfers that made money on the LPGA Tour made over $1 million.
The number of golfers making over $1 million on the LPGA Tour has doubled since the 2019 season. And from 2015 to 2021 — the numbers were relatively flat.
Here is a look at the last ten years.
2023 — 28
2022 — 27
2021 — 15
2020 — 3
2019 — 14
2018 — 14
2017 — 17
2016 — 15
2015 — 9
2014 — 11
The money is flowing to all players — not just the top. The median earnings on the LPGA Tour in 2023 were $209,557, an increase of 74% versus the median earnings in 2014.
And here is how it looks for golfers making over $500,000.
2023 — 56 (29% of total golfers)
2014 — 37 (22% of total golfers)
Here is the $250,000 mark.
2023 — 88 (46% of total golfers)
2014 — 61 (37% of total golfers)
And 128 golfers made at least $100,000 in 2023 compared to 92 in 2014.
The LPGA Tour is only going to get better in 2024. Golfers will compete for a total prize fund of more than $118 million — around an 18% increase from 2023 and a 76% increase from 2018.
Sixteen tournaments will see a purse of at least $3 million in 2024. Four of the tournaments announced an increase to $3 million.
Mizuho Americas Open — 9% increase
Meijer LPGA Classic — 20% increase
Walmart NW Arkansas Championship — 30% increase
LOTTE Championship — 50% increase
The most significant increase from a money standpoint was the CME Group Tour Championship — increasing from $7 million in 2023 to $11 million in 2024.
The lowest tournament purse in 2024 is $1.5 million at the Hilton Grand Vacation Tournament of Champions.
The $118 million will likely be higher by the end of the 2024 season as the major championships will announce their purses shortly before the tournament is played.
And the majors have seen a significant increase in the purse size since 2014. The U.S. Women’s Open has increased by 175%.
Even with the significant increases in LPGA Tour purses — tennis has the edge.
Tennis still has the highest upside for on-field and off-field earnings in women’s sports — 42 women have made over $1 million playing tennis this year. Now, it’s not an apples-to-apples comparison as over 3,700 women have cashed checks playing tennis this year compared to 193 on the LPGA Tour.
Sportico compiled a list of the top 15 female athlete earners in 2022, including endorsements. Three golfers made the list compared to nine tennis players.
Jin Young Ko
Nelly Korda
Lexi Thompson
The LPGA Tour has done an incredible job bringing on new sponsors and working with existing sponsors to increase tournament prize funds. And I suspect that will continue to improve.
There will be increased television opportunities in 2024. The LPGA Tour signed a two-year agreement with ESPN that will run through 2025 to stream featured groups in eight events.
At the current trajectory — It won’t be long until we see 50 golfers making over $1 million on the LPGA Tour.
Have yourself a great Monday. Talk to you next week!
Your feedback helps improve Perfect Putt. How did you like this week's newsletter?
If you enjoyed this week’s newsletter, please share it with your friends!
Are you interested in partnering with Perfect Putt? Click the button to learn more about sponsorship opportunities.