Simon Cowell has revealed his latest business venture, a brand new streaming platform, after leaving London for his own safety.
The America’s Got Talent star, 64, decided to back Lounges.tv, which has described itself as a “creator-first platform where fans can discover, interact and support the artists they love”.
Thousands of content creators have reportedly joined the new platform to stream their content on-demand after the music mogul announced his financial backing.
The music mogul, famous for The X Factor and American Idol, has previously discovered the likes of One Direction, Camila Cabello and Labrinth. Now, he explains, the platform might be an opportunity to discover new talent.
“I am proud to be involved with and to support Lounges.tv”, he stated. “You never know where the next great talent will emerge from, and I really believe that creating as many opportunities as possible for talent to be discovered and to build their own fan bases is great for everyone.”
The platform claims to offer a faster way for content creators to monetize their work, as creators will retain 80% of their streaming revenue, receiving payment within 24 hours of going live.
“The artists and the audience, rightly, are making 100% of the decisions, and Lounges.tv is giving talent another new type of platform to promote themselves”, Simon stated. “I was really interested to learn that on Lounges.tv creators get paid within 24 hours, and I thought that was a really good idea and hopefully will make a difference.”
The music industry icon’s latest venture comes in a year of massive upheaval for him, as he fled London “because he no longer feels safe”, selling his $55 million dollar home in Holland Park after a burglary in 2015.
He also admitted to undergoing therapy this year, as he told the Daily Mirror: “I’ve suffered from depression over the years… but that was just something I just thought, ‘Well, that’s my character trait. I get down,’ and it’s something you deal with.”
After a serious injury riding an E-bike in 2022, Simon underwent intense surgery that led to his back being stabilized with a metal rod. He explained that this, alongside the pandemic, left him feeling unprepared to get back to “the real world”.
“Fortunately I met some friends who had benefited from therapy”, he said. “And that’s when I thought, ‘You know what? I’ve kind of looked after my body through diet, and exercise, pretty well over the years, but what have I done about my brain and my mind?’”
He carried on: “The answer is nothing and now’s the time to do it. So, it was almost like my head going to the gym… I made the appointment and I sat down, really embarrassed and I said, ‘Look, I just don’t know where to start. But within about 20 minutes it was as if I’d known him for 10, 20 years.’”