US Open prize money will jump to a record $34.3 million this year and could reach $36.9 million, the US Tennis Association announced on Wednesday.

The figures are higher than the planned record boost announced last March and represent a jump of at least 37 percent and as much as 43 percent for second and third-round losers compared to last year, when prize money totaled $25.5 million.

The year's final Grand Slam is set to begin on Aug 26.