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Syco earnings topped £71 million in 2013/2014
By Chris Cooke | Published on Tuesday 13 January 2015
Simon Cowell’s Syco business had earnings of £71 million in the financial year up to 31 Mar 2014, which isn’t to be sniffed at. Unless you’ve got a cold. Then you might have to sniff at it. Even if you didn’t want to.
Syco, of course, is Cowell’s joint venture with Sony Music which owns his TV show formats, the record label that mainly signs artists out of said shows, and a movie division which, well, makes films about said artists signed out of said shows, mainly. Syco also has a slice of the One Direction business, which was arguably at its peak in this financial year.
According to the most recently filed company accounts, Syco paid out a dividend in the 2013/2014 financial period, the first such pay-out since 2005 apparently, with Sony Music getting £51 million and Millforth Limited, Cowell’s JV with Top Shop chief Philip Green, getting £29 million.
The Daily Mirror then made some assumptions and did some maths and reckons that Cowell himself could have earned £24.5 million from his business ventures in the 13/14 financial year. Which, if true, means he could probably afford a Vicks inhaler and then he wouldn’t have to sniff at it, however bad his cold might be. The Mirror doesn’t tell us whether Simon Cowell currently has a cold, though.
