By . Sara Nathan . PUBLISHED: . 18:56 EST, 3 January 2013 . | . UPDATED: . 03:08 EST, 4 January 2013 . It may need a bit of fine tuning - but the X Factor USA has helped Simon Cowell's TV company make astonishing profits of £32.6 million ($52.4), it has been revealed. The 53-year-old music mogul's TV production business, Simco, was boosted by 138 per cent last year, mainly due to the launch of the Fox TV talent show. Cowell's company also reported that total turnover almost doubled to  £54.6m ($87.89m) in the year to 31 March 2012. Rich: The launch of the X Factor USA has helped Simon Cowell - seen here a the X Factor final in December - boost his fortunes . Turnover in the US grew from £3.2m ($5.1m) to £22.9 million ($36.8m)-  and went from accounting for just over 11 per cent of Simco's total turnover to almost 42 per cent. Simco, the TV business that produces Cowell's TV formats including The X Factor, the Got Talent franchise as well as UK gameshow Red or Black?, reported that pre-tax profits rocketed from £13.7m ($22m) to £32.6m ($52.4m) year-on-year in the 12 months to 31 March 2012. The company, which includes 'music sales' in a description of its activities in the latest financial filing at Companies House in London, said that the biggest contributor to the increase in profits came from the launch of The X Factor USA., according to The Guardian. Who's got the X Factor: Cowell will have to replace L.A. Reid on the judging panel this year . Cowell - who according to Forbes made $90 million last year alone - is currently on his annual winter break in the Caribbean, where he has been joined by former fiancé Mezhgan Hussainy and ex-girlfriends Sinitta and Jackie St Clair. The X Factor USA will return for a third season later this year. But the multi-millionaire is already making plans for the next season after the two-hour finale last month in which Tate Stevens was crowned X Factor champion pulled in 9.6 million viewers. During its second season, the X Factor USA averaged a 3.9 rating among adults 18-49 and an average of 10.6 million total viewers throughout the season. And the X Factor continues to make a wide impact on the music and social media landscape, breaking hit acts from One Direction to Cher Lloyd, Leona Lewis, Rebecca Ferguson, Olly Murs, and Little Mix. Cowell also plans to sign runners-up Carly Rose Sonenclar and Fifth Harmony, according to reports. And although there has been speculation over Britney Spears’ future as a judge she is not to be ruled out, as the blonde star has already made it clear she would be happy to return. However, he will definitely have to find a replacement for L.A. Reid who announced his departure before the series finale. It is thought that Demi Lovato will return. Artists discovered by the X Factor have sold more than 100 million records worldwide, including 110 No. 1’s, 270 Top 10, and 501 Top 50 releases - and the show has been commissioned in 41 territories. The EX- Factor: Cowell seen with his ex-fiancee Mezhgan Hussainy on holiday in Barbados last month . The U.S. show also saw a huge . increase in the young demo and has become the most talked about TV show . of all time on social media - with the highest average social activity per episode than any other regularly scheduled non sports programme. It has an average social activity per episode of 618K. In the UK, turnover grew by 24 per cent to £26.6m, although the domestic market's share of total turnover fell from 77 per cent  to 48 per cent due to the growth of Simco's US business. The 'rest of the world' grew turnover by 52 per cent year-on-year to £5m. Simco's parent company is Syco Entertainment, which comes under SonyBMG.
X Factor runners-up Carly-Rose Sonenclar and Fifth Harmony - as well as Emblem 3 - set to be signed up by the music boss .
Fox show will return for a third season - and don't rule Britney Spears out just yet .
The X Factor is the 'most talked' about show on social media .
By . Sara Nathan . PUBLISHED: . 18:56 EST, 3 January 2013 . | . UPDATED: . 03:08 EST, 4 January 2013 . It may need a bit of fine tuning - but the X Factor USA has helped Simon Cowell's TV company make astonishing profits of £32.6 million ($52.4), it has been revealed. The 53-year-old music mogul's TV production business, Simco, was boosted by 138 per cent last year, mainly due to the launch of the Fox TV talent show. Cowell's company also reported that total turnover almost doubled to  £54.6m ($87.89m) in the year to 31 March 2012. Rich: The launch of the X Factor USA has helped Simon Cowell - seen here a the X Factor final in December - boost his fortunes . Turnover in the US grew from £3.2m ($5.1m) to £22.9 million ($36.8m)-  and went from accounting for just over 11 per cent of Simco's total turnover to almost 42 per cent. Simco, the TV business that produces Cowell's TV formats including The X Factor, the Got Talent franchise as well as UK gameshow Red or Black?, reported that pre-tax profits rocketed from £13.7m ($22m) to £32.6m ($52.4m) year-on-year in the 12 months to 31 March 2012. The company, which includes 'music sales' in a description of its activities in the latest financial filing at Companies House in London, said that the biggest contributor to the increase in profits came from the launch of The X Factor USA., according to The Guardian. Who's got the X Factor: Cowell will have to replace L.A. Reid on the judging panel this year . Cowell - who according to Forbes made $90 million last year alone - is currently on his annual winter break in the Caribbean, where he has been joined by former fiancé Mezhgan Hussainy and ex-girlfriends Sinitta and Jackie St Clair. The X Factor USA will return for a third season later this year. But the multi-millionaire is already making plans for the next season after the two-hour finale last month in which Tate Stevens was crowned X Factor champion pulled in 9.6 million viewers. During its second season, the X Factor USA averaged a 3.9 rating among adults 18-49 and an average of 10.6 million total viewers throughout the season. And the X Factor continues to make a wide impact on the music and social media landscape, breaking hit acts from One Direction to Cher Lloyd, Leona Lewis, Rebecca Ferguson, Olly Murs, and Little Mix. Cowell also plans to sign runners-up Carly Rose Sonenclar and Fifth Harmony, according to reports. And although there has been speculation over Britney Spears’ future as a judge she is not to be ruled out, as the blonde star has already made it clear she would be happy to return. However, he will definitely have to find a replacement for L.A. Reid who announced his departure before the series finale. It is thought that Demi Lovato will return. Artists discovered by the X Factor have sold more than 100 million records worldwide, including 110 No. 1’s, 270 Top 10, and 501 Top 50 releases - and the show has been commissioned in 41 territories. The EX- Factor: Cowell seen with his ex-fiancee Mezhgan Hussainy on holiday in Barbados last month . The U.S. show also saw a huge . increase in the young demo and has become the most talked about TV show . of all time on social media - with the highest average social activity per episode than any other regularly scheduled non sports programme. It has an average social activity per episode of 618K. In the UK, turnover grew by 24 per cent to £26.6m, although the domestic market's share of total turnover fell from 77 per cent  to 48 per cent due to the growth of Simco's US business. The 'rest of the world' grew turnover by 52 per cent year-on-year to £5m. Simco's parent company is Syco Entertainment, which comes under SonyBMG.
The X Factor USA will return for a third season plans to sign runners-up Carly Rose Sonenclar and Fifth Harmony, according to reports. And although future as a judge she is not to be ruled out, as will return. Artists discovered by the X Factor has become the most talked about TV show . of all time on social media - with the highest average