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'X Factor' Lands Cowell $42 Million

Allbiz - PWCM - JLA 2011/12/24 00:56:24

For
one of the most hyped television shows of the year, “The X Factor” may
have had disappointing ratings, but the show still turned out to be a
big payday for Simon Cowell, its creator.

According to corporate
filings in Britain made public this week, Mr. Cowell made about $42
million through a deal with Sony last year that established Syco
Entertainment, a joint-venture company for Mr. Cowell’s various
entertainment businesses, including “The X Factor,” as The Guardian of London reported.

For
Sony’s 50 percent share in Syco, the company paid about $49 million and
turned over its ownership stakes in two of Mr. Cowell’s other
entertainment properties, Simco and Ronagold. Mr. Cowell received $42
million of that money by turning over the shares of another company
under his control, Maidmetal.

The deal, struck in March 2010,
established Syco as a holding company for a number of Mr. Cowell’s
entertainment businesses. Simco is its television production arm;
Ronagold exploits recording rights; and Maidmetal is for music
publishing. Another company handles concert tours for contestants on “X
Factor” and “Britain’s Got Talent.”

For its first season in the United States, “The X Factor” has shaped up as a ratings disappointment. On
Wednesday night, the second to last show, 11.1 million viewers tuned in
for the contestants’ final performances; on Thursday, when Melanie
Amaro, a 19-year-old from Florida, was crowned the winner, the total was
12.4 million, a 25 percent increase from last Thursday.

But those numbers fell short of the 20 million that Mr. Cowell had once promised for the show. “The X Factor” was only about half as popular as Mr. Cowell’s last show, “American Idol.”

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Opinions

  • Hula girl - Friends not Fol... 2011/12/24 01:15:01
    Hula girl - Friends not Followers
    +1
    Too bad that's not his profit but all the operating costs that go into those figures.
  • Allbiz ... Hula gi... 2011/12/24 01:57:30
    Allbiz - PWCM - JLA
    As O understand it, that is all his. He also receives additional monies that brings his total take from X Factor to about $75 million.

    All the operating costs are paid by the sponsors and producers. Cowell was the producer on AI and AGT but not on X Factor.

    Easy work.........if you can get it.
  • Hula gi... Allbiz ... 2011/12/24 02:49:34
    Hula girl - Friends not Followers
    +1
    Hardly easy....TV and Production is tough tough work. I was in Productions for years.
  • Allbiz ... Hula gi... 2011/12/24 17:02:02
    Allbiz - PWCM - JLA
    I was referring to Simon's job. He lives a very luxurious life.
  • Hula gi... Allbiz ... 2011/12/24 19:00:03
    Hula girl - Friends not Followers
    +1
    And he worked for it. He is the genius that came up with the shows and put the money and time into them. He didn't just sit back in his life and it all came to him. He has talent. It was him that personally came up with El Divo and is making a good dime off of them too.
  • Allbiz ... Hula gi... 2011/12/25 21:33:32
    Allbiz - PWCM - JLA
    My favorite of his shows is America's Got Talent.

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