On the outset, 3% may seem like a small increase, but its going to add up over the season. I only go to like 3-4 games a season so it won't feel to be a massive difference for me, but the fans who go regularly each week will feel the increase on their wallet.
As long as the money is reinvested into the squad, I'd understand. Hopefully the Ozil signing was a step in the right direction.