Saturday 18 November 2017

One Direction bag Cowell's €12 million multi-album deal

One Direction have signed a €12 million megadeal.

The band will release another three albums for Simon Cowell’s record label Syco between now and 2016.

Two of the albums will be studio work and the third will be a greatest hits compilation.

Harry Styles, Liam Payne, Zayn Malik, Niall Horan and Louis Tomlinson were locked in talks for most of the year, but an agreement has finally been made.

“Simon Cowell and One Direction are delighted to confirm they have agreed to continue their hugely successful relationship with a new long-term agreement with Syco,” a label spokesman confirmed to British newspaper The Sun. “Simon and the band look forward to many years of continued success together.”

The contract will only be valid after the release of Midnight Memories, One Direction’s third album due out in November.

NEW YORK, NY - AUGUST 26: (L-R) Louis Tomlinson, Niall Horan, Zayn Malik, Liam Payne and Harry Styles attend the world premiere of
NEW YORK, NY - AUGUST 26: (L-R) Louis Tomlinson, Niall Horan, Zayn Malik, Liam Payne and Harry Styles attend the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Louis Tomlinson, Niall Horan, Zayn Malik, Liam Payne and Harry Styles of British boy band One Direction arrive for the premiere of their documentary film "This is Us" in New York, August 26, 2013. REUTERS/Lucas Jackson
Louis Tomlinson, Niall Horan, Liam Payne and Harry Styles of British boy band One Direction arrive for the premiere of their documentary film "This is Us" in New York, August 26, 2013. REUTERS/Lucas Jackson
Perez Hilton attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Perez Hilton attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Louis Tomlinson, Zayn Malik, Niall Horan, Liam Payne, and Harry Styles attend the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Actress Madeline Brewer attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Director Morgan Spurlock attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Actress Madeline Brewer attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Louis Tomlinson, Niall Horan, Zayn Malik, Liam Payne and Harry Styles attend the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Hailey Rhode Baldwin (L) and Stephen Baldwin attend the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Director Morgan Spurlock (R) attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Actress Madeline Brewer attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Perez Hilton attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Louis Tomlinson, Niall Horan, Zayn Malik, Liam Payne and Harry Styles attend the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Harry Styles attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Television personality Alicia Quarles attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Hailey Rhode Baldwin (L) and Stephen Baldwin attend the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Television personality Rocsi Diaz attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Television personalities Alicia Quarles (L) and Rocsi Diaz attend the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Perez Hilton attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Actress Emma Kenney attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Actress Emma Kenney attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Louis Tomlinson, Zayn Malik, Niall Horan, Liam Payne and Harry Styles attend the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Director Morgan Spurlock attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Director Morgan Spurlock (R) attends the world premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)
Hailey Rhode Baldwin (L) and Stephen Baldwin attend the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Hailey Rhode Baldwin (L) and Stephen Baldwin attend the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Harry Styles (C) attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Television personality Keltie Knight attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Perez Hilton attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Actor Kendall Schmidt attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Actor Kendall Schmidt attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Actor Kendall Schmidt attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Executive Producer Jeremy Chilnick attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Executive Producer Jeremy Chilnick attends the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Larry Busacca/Getty Images)
Meredith Winston (L) and Producer Ben Winston attend the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images)

More tours have also been planned for next year and the band are very excited.

“This is a big deal for Simon and the lads,” an insider said. “It shows confidence that they have a long-term future and that a split or members going solo is highly unlikely. It will easily keep them busy until the end of 2015 and probably 2016 too.”

There will be a lot of money to be made from residuals, including merchandise and record sales.

“The boys, Simon and their team have already started planning for their fourth album, even though the third isn’t out yet,” the insider continued. “It’s worth a lot of cash too. They’ll get a big upfront payment worth millions then much more from record sales, tours, brand tie-ins and merchandise.”

Online Editors

Promoted Links

Entertainment Newsletter

Going out? Staying in? From great gigs to film reviews and listings, entertainment has you covered.

Promoted Links

Editors Choice

Also in Entertainment