Well..even if Simon Cowell’s US version of his popular X Factor franchise can’t rake in the ratings, he’s at least making some money from the enterprise. Via The Guardian:

Pre-tax profits at Simon Cowell’s TV production business surged by 138% last year to £32.6m, primarily thanks to the launch of The X Factor in the US.

Simco, the TV business that produces Cowell’s formats including The X Factor, the Got Talent franchise and gameshow Red or Black?, reported that pre-tax profits rocketed from £13.7m to £32.6m year-on-year in the 12 months to 31 March 2012.

Simco, which includes “music sales” in a description of its activities in the latest financial filing at Companies House, said that the biggest contributor to the increase in profits came from the launch of The X Factor USA, broadcast by Fox.

Not bad…

Via The Guardian

 
  • fuzzywuzzy

    “pre-tax profits rocketed from £13.7m to £32.6m year-on-year in the 12 months to 31 March 2012.”

    This would make Simon ecstatic.

  • Klaine

    XFactor has practically replaced Idol as the international format with TheVoice quickly expanding. Most major countries have XF add their main singing competition. Idol doesn’t exist in UK, Australia etc.. and Simon probably gets $$.. don’t know how much– from all since I don’t he’s involved in most except us+UK.

  • chessguy99

    Figures Simon would make money out that mess of a show. I wonder how long he has those sponsorship deals locked in for? I doubt he’d be making that much coin if he didn’t have the backing of Pepsi, Verizon and Chevy.

  • http://twitter.com/avrohama aj rabin

    To Simon it’s all about the $$. The contestants are just his chips in the game.

  • Larc

    At current rates, £32.6 = $52,481,721 in USD.  But I suspect the UK Government as well as the US Government will dip their greedy hands deeply into it, so Simon may not get to keep very much.

  • chillj

    Sheesh.  Apparently he is too big to fail.

  • http://pulse.yahoo.com/_2K6LL4WPUTAY6TKG2VG3SYFA5M Erlinda

    According to huffingtonpost Simon estimated net worth is $329 million. So, yeah he has plenty to burn. Give me some of that dough Simon! I wanna buy a Ferrari FF. Lol.