Since the dawn of tennis’s open era in 1968, the U.S. Open has grown from a two-week sporting contest into one of the most lucrative events in global sports. The tournament now draws not only the world’s best players but also celebrities, luxury brands, corporate executives, and affluent consumers—a mix that has helped turn the annual gathering in Queens into a business generating more than half a billion dollars.

The U.S. Tennis Association (USTA) reported $623.8 million in total revenue in 2024, with the U.S. Open accounting for roughly 90% of that figure, according to its most recent audited financial statements. The tournament alone generated $559.6 million in operating revenue during its three-week run.

That kind of money, however, requires substantial investment.

Operating expenses totaled $282.2 million in 2024, leaving an operating surplus of roughly $277.4 million—a margin of nearly 49%. Revenue climbed 9% year over year from $514.1 million in 2023, extending a multi-year growth streak that has continued largely uninterrupted since the pandemic.

The numbers illustrate how far the U.S. Open has traveled from its roots as a sporting event. Alongside Wimbledon, the Masters, and Formula One, it has become one of the world’s premier luxury sporting experiences—and one of its most reliable moneymakers.

How the U.S. Open makes its money

The tournament’s revenue flows from several sources: ticket sales, sponsorships, broadcasting rights, hospitality packages, food and beverage, and merchandise.

Ticket revenue reached $208.5 million in 2024, while sponsorship revenue topped $130 million. Corporate hospitality and related services added $83.3 million, and broadcast rights contributed roughly $145 million.

Attendance, meanwhile, has hit record highs. More than 1.04 million fans passed through the gates of the USTA Billie Jean King National Tennis Center during the 2024 tournament—the first U.S. Open to surpass one million attendees, according to the USTA. The event drew an even larger crowd of about 1.14 million in 2025.

Yet the tournament’s financial success is increasingly tied to a strategy built around premium experiences and exclusivity.

The business of luxury tennis

Over the past decade, the U.S. Open has steadily repositioned itself as a luxury sports and entertainment destination.

Relatively affordable tickets still exist, but the tournament has aggressively expanded premium seating, hospitality offerings, luxury suites, and exclusive add-ons designed to draw high-spending consumers and corporate clients. The USTA is now investing roughly $800 million in upgrades to Arthur Ashe Stadium and the surrounding grounds—the largest capital project in the tournament’s history—with much of the work aimed at premium hospitality and high-end fan experiences.

The shift mirrors a broader trend across sports, where leagues and event organizers increasingly prioritize premium inventory because it generates far more revenue per seat than traditional ticket sales.

For sponsors, the appeal is straightforward. Unlike a conventional ad campaign, the U.S. Open offers brands direct access to an affluent audience concentrated in one place. The event fuses live sports, entertainment, hospitality, fashion, and business networking, making it one of the most attractive sponsorship platforms in sports.

Why sponsors keep investing

The U.S. Open maintained 27 sponsorship agreements in 2024, including partnerships with American Express, Emirates, Rolex, Tiffany & Co., Ralph Lauren, and Grey Goose.

For many of these companies, the deals are less about short-term sales than long-term brand positioning. Associating with the U.S. Open lets sponsors align themselves with prestige, exclusivity, and affluent consumers.

Few examples capture that dynamic better than the Honey Deuce.

The cocktail—Grey Goose vodka, lemonade, raspberry liqueur, and a skewer of honeydew melon balls meant to mimic tennis balls—has become one of the tournament’s most recognizable traditions. Despite a $23 price tag, demand keeps climbing. Grey Goose reported that a record 738,459 Honey Deuces were sold during the 2025 tournament, generating roughly $17 million and demonstrating how readily consumers embrace premium pricing once it becomes part of an exclusive experience.

Ralph Lauren has similarly leveraged its decades-long relationship with the tournament to reinforce its ties to tennis culture and premium lifestyle branding. Official U.S. Open collections routinely feature apparel priced in the hundreds of dollars, reflecting the luxury positioning that has become synonymous with the event.

Can the U.S. Open keep its luxury status?

The USTA faces the question of whether demand can continue to support rising prices.

Critics argue the tournament is becoming increasingly inaccessible to average fans as ticket prices, hospitality packages, and on-site spending keep climbing. But demand has shown little sign of cooling so far, with attendance records, sponsorship growth, and premium hospitality sales all moving in the same direction.

The stadium renovations are expected to add still more premium inventory, a sign the USTA believes consumers will keep paying for greater exclusivity.

“They’re not necessarily so into tennis, but more into the scene and wanting to be there,” USTA chief commercial officer Kirsten Corio told Curbed.

The event’s economic footprint extends well beyond the grounds. Analytics firm GhostCom estimates the 2026 U.S. Open could generate $369.7 million in incremental consumer spending across hotels, food and beverage, apparel, restaurants, and nightlife.

For now, the business case looks clear. The U.S. Open has transformed itself from a tennis championship into a luxury entertainment brand—one that generates more than half a billion dollars a year and keeps finding new ways to monetize exclusivity.

This story was originally featured on Fortune.com