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UPDATE: We told you there was intense rivalry between The Two Simons. Now it’s over their new net worth. Simon Fuller’s flacks on both sides of the Atlantic have angrily contacted Deadline London claiming the producer is already far wealthier than his one-time protégé, Simon Cowell. That alone speaks volumes. Is this hilarious or what?
American Idol creator Simon Fuller through his PR mouthpieces claims he’s set to not just match but pull even further ahead of Simon Cowell when it comes to how much money he’s going to make from new TV deals. As you know, Fuller has quit 19 Entertainment, the company he founded, to set up a new as-yet-unnamed company to executive produce Fox’s American Idol. Remember, five years ago, U.S. entertainment group CKX bought 19 Entertainment, his £92 million business with 200 employees, for nearly $200 million, already making Fuller a rich man. But his new executive producing deal means he will share for the first time in the profits of American Idol and So You Think You Can Dance. Fuller will also continue to supply “general consulting services” to CKX, which owns the format for American Idol.
On the other hand, Cowell, unlike Fuller, owned the formats of the shows he makes, The X Factor and Got Talent, from the beginning. Sony then bought out the remaining 50% of X Factor. Between them, X Factor and Got Talent sell to 30 countries and Cowell makes money from them all. In addition, UK broadcaster ITV pays Cowell £6.5 million a year for hosting the British versions of X Factor and Got Talent, plus fees which go to his production company Syco. Cowell also shares in phone revenues, which generate around £1 million from viewers’ votes. For American Idol though, Cowell is paid a flat fee – albeit a hefty £20 million a year. But he recently announced he’s quitting as an AIl judge next year when Fox will start running The X Factor. Now Sir Philip Green, owner of the Top Shop fashion chain, is going into business with Cowell. Green is Britain’s 9-richest man with a personal fortune estimated at £4 billion.
Now for the numbers: The Sunday Times Rich List already has Fuller worth £300 million compared with Cowell’s £120 million. Game Over? Maybe not. Because it’ll be amusing to watch The Two Simons keep piling up big bucks as their new TV deals kick in. Great idea for another TV competition show. Let them fight over who’ll produce it.
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Simon Fuller is and has been richer than Simon Cowell for some time although the gap is closing and Cowell is likely to overtake in the coming years if X Factor takes off.
Fuller’s weath is estimated at £300m. Cowell is estimated at £120m. (Sunday Times Rich List)
Like Fuller, Cowell sold his company in 2005 (to Sony) and wants it back.
Nikki, I do not think your characterization is totally accurate. I doubt Simon Fuller is “envious” that Simon Cowell is earning enormous sums from the licensing of the formats of his shows; Fuller has already did that himself quite successfully. Fuller’s 19 Entertainment owned the format and a substantial portion of the profits from “Pop Idol,” “American Idol,” and “So You Think You Can Dance.” When Fuller sold that company to CKX for some $200 million, he essentially cashed out of those cash flows. It was widely reported that Cowell’s relationship with Fuller became strained when Cowell mimicked Fuller by developing and producing his owns shows (“X Factor and “Got Talent”), so Cowell could be an owner, and not just an employee–as he was on “Pop Idol” and “American Idol”–working for Fuller. Congratulations to Simon Cowell for his success, but I don’t think he is schooling Simon Fuller about how to make money producing TV shows.
These arguments are a waste of time. The 2 Simons are both extremely rich. Just relax and enjoy it.
This just doesnt make sense. Simon Fuller still owns a minority interest of the X Factor as part of the out of court settlement when Fuller sued Cowell a few years back (copyright something). So it really doesnt matter, both of them will be laughing all the way to the bank.
@Louie
Simon Fuller’s holding in X Factor (through 19 Entertainment) only lasted as long as Simon Cowell’s American Idol contract. So it expires on the last show of the next season.
As the owner of Idol what areas of income from the show does Fuller make money. Does he make money from the downloads, concerts,merchantdise,record sales,off the shows web site or does the network get this money?