The X Factor USA: Simon Cowell’s Simco Doubles in Profit Thanks to The X Factor USA
The latest installment of The X Factor USA has not only drawn some of the biggest talent in the country, but it helped increase Mr. Cowell’s bank account as well. According to news sources, The X Factor USA turned a profit of $52.4 million this season. This boosted Simon’s TV production company, Simco, 138 percent in the last year.
From March 31, 2011 to January 2013 Simco’s pre-tax profits increased from $22 million to $52.4 million. This includes profits from not only The X Factor franchise, but Got Talent and Red or Black?.
The Guardian reports that The X Factor USA is most responsible for the increase. Part of this is due to “music sales.” With hot acts like Emblem 3, Fifth Harmony and Tate Stevens joining the roster, it’s likely that this number will be even higher next year. Just think of how much merchandise Emblem 3 and Fifth Harmony alone will sell.
The X Factor USA will return for a third season this September.