Simon Cowell has reportedly earned around £28m in 2011, following a bumper year which saw him reclaim the rights to TV shows including Britain’s Got Talent and The The X Factor.

According to the Mirror, the mogul pocketed the bumper salary after forming new company Syco Entertainment, and as a result of revenues from shows produced by production company Simco – which also included gameshow Red Or Black.

And things look set to get even better for Cowell in 2012 with a second series of US X Factor on the cards.

The show – which features Cowell as a judge and mentor alongside Paula Abdul, Nicole Scherzinger and record producer LA Reid – was renewed after becoming a ratings hit in the US, with average audiences of 13.5m – and show bosses hopeful the ratings can grow to rival American Idol, which pulls in twice as many viewers.

“There is massive scope to make US X Factor even bigger, and this is very much just the beginning,” a source told the paper.

“Advertisers have been impressed with the constantly good ratings and the audience will only grow – as will Simon’s pay packet.”

The final of the first series was won by 19-year-old Melanie Amaro on Thursday night.