Yes, because it will not overwrite the old backup.
That is a "good thing" because you don't want to automatically overwrite your backups.
The purpose of having backups is to have a lot of them incase there was a problem.
For example.
Let's say that in two weeks time, you discover a criminal hacked into your system a week ago and did some bad things.
If you only have the latest backup, two weeks from now, you will certainly not have the backup from three weeks ago (from two weeks in the future).
So, if you want to be safe and take care of your users and user data, you must have backups going back ... a long way... depending on how critical your data is.
Then, as a good sys admin, you delete your very old backups (manually is best) when you are confident you don't need them.
That's how it is done.
Otherwise, you will f*ed very much when you discover in a month someone hacked you two weeks ago from today