Simon Cowell issues warning as he breaks silence on Midas Show fear

Simon Cowell
-Credit: (Image: Getty Images)

Media mogul Simon Cowell has described his upcoming project as "one of the scariest" things he's ever undertaken.

The 64-year-old has recently started auditions for The Midas Touch, a new venture aimed at discovering members for a boyband, hoping to emulate some of Simon's early triumphs with The X Factor, which propelled One Direction to worldwide fame.

However, 14 years after Louis Tomlinson, Niall Horan, Harry Styles, Liam Payne, and Zayn Malik were assembled for the popular show, Simon is apprehensive that social media may have altered the landscape for emerging musicians. Filming for The Midas Touch, already commissioned by Netflix, has reportedly encountered early difficulties, with the first two rounds of auditions in Gateshead being postponed.

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Furthermore, insiders claim that the initial auditions in Liverpool attracted only a small number of boys. The Sun reports that no more than 40 people were ever in line at once, a stark contrast to the winding queues of The X Factor's golden era, reports the Mirror.

In a previous interview with Hello!, Simon confessed that launching his new project was "one of the scariest things I've ever done because I have no safety net.

"I used to do this 25 years ago, before social media, so now, everyone is in their bedrooms. Are they going to audition? I hope so."

The music industry has evolved significantly since Simon Cowell's X Factor days, with artists like Taylor Swift and Sabrina Carpenter now topping the charts. Despite this shift, Simon is confident that boybands still have a place in today's market.

He added: "I've always believed everything is cyclical. If One Direction formed tomorrow and put their first single out now, I honestly think it would be more successful."

Simon also disclosed that he remains in touch with some members of One Direction, mentioning that Harry Styles contacted him after his stint on the Diary of a CEO podcast hosted by Steven Bartlett. Simon regards not securing the rights to the name 'One Direction' as one of his "biggest regrets" from his career.

Fans of The X Factor and loyal Directioners are anticipated to experience quite the change with Simon's new show, The Midas Touch. TV insiders have hinted at a major departure from the familiar X Factor format, with one revealing: "These auditions will not look like The X Factor in the slightest - no shiny desks, big productions or celebrity guests. It will be incredibly stripped back.

"Simon has amassed a team of real experts - songwriters, producers and A&R people - who he really trusts. Together they'll be chatting to the talent and trying to work out who should go through."

In a significant move away from the traditional X Factor model, Simon has acknowledged that there won't be a record deal included in the show's prize. Consequently, the winners will have to harness their own star power to attract attention from record labels independently.