UPDATED: Ryan Seacrest just received $15 million in 3 year contract with CKX, parent of 19 Entertainment/”Idol” Producer. (7/13/09) It’s not a bad time to be the “bad boy” of American Idol, or better the “British invasion of blunt taste,” i.e., Simon Cowell. With a recession-proof request to re-up at Idol - from Cowell’s current $36 million per year (we’re assuming little if any individual merchandising tied to the show) to $144 million a year, and a newco deal with Sir Philip Green, a UK retail magnate, in Greenwell Entertainment, Cowell seems poised to take advantage of a struggling tv, talent and reality marketplace. Similar to what the falling fallen music business is doing, media studios are presumably locking in 360-degree deals with their talent, whereby the economics become all-inclusive and hedged beyond a single property.

Per Silicon Alley Insider, by way of the New York Post:

While $36 million may seem like a lot of money for five months worth of snarky comments and eye-rolls, it’s only a fraction of the estimated $900 million that “Idol” rakes in a year. As the lynchpin of the show — without him there would be no one to hate and no dramatic tension with Paula Abdul — Cowell believes he’s due for a raise.

Credit goes to Simon and Sir Philip for seeing an opportunity. Cowell brings contrast to Idol - among other spectacles - and really shines a light on the US celeb fascination. While everyone else fawns, he weaves in hyper criticism to the aspiring young singers (and Abdul and Seacrest).

For much of his career as a music mogul in training, Cowell has represented talent and shows which were timed well for a fickle viewership, including Pop Idol, The X Factor and Britain’s Got Talent; as well as record deals for the Mighty Morphin Power Rangers and World Wrestling Federation.

Further from the NY Post - Cowell weaves into Greenwell Entertainment the ability  to produce shows, manage talent and their merchandising, on a global scale:

Sources close to the [Cowell and Green] say that this is just the first step to the creation of an international TV production, talent management and merchandising company, which would put Cowell in a position to actually make money off his ideas and the talent he discovers, not just reap a salary for having his mug on screen.

“This is about properly owning himself, Brand Cowell, everything he does, new formats and new programs, not just the ones starring him,” a source close to Green told The Guardian.

Entertainment wiz Cowell, who signed international “popera” act Il Divo, is likely to run the creative end while Green, Britain’s ninth wealthiest person, will focus on financial issues.

Note: while travelling abroad in Australia and New Zealand last month, I heard this same chorus from very successful production companies - re short to mid-term for-hire work versus long-term creation of intellectual property with its merchandising possibilities held at higher percentages.

Cowell, here, takes the position that he has made enough of a name (and a paycheck) at Idol and other shows to now own the front and backend pieces or “participation bookends.”

Via Billboard Magazine’s breaking article on Simon Cowell ‘To Launch Global Entertainment Company’ - this early partnership, with Sir Green’s retail ownership of Topshop (think US’s Forever 21 or H&M stores) and Cowell’s media savvy, puts Cowell into a wider intercontinental pay range.

Green owns U.K. retail chain BHS and the Arcadia Group, so he can create retail exclusives for his partner’s content and talent creations, on the fly. Cowell reaps distribution, merchandise fulfillment and a financial bench and bank to boot.

Ownership goes a long way beyond individual demand in a marketplace heavy with quick tastes and controversial quips. Greenwell has the opportunity to create a new voice for production, while simultaneously growing more management and (and did I mention this?) merchandising…

On what makes a New Medici like Cowell tick, from his 2007 Playboy Interview:

COWELL: I’m interested only in making money, for myself and the people I work for. I mean, that’s absolutely the only criterion I attach. That’s it.

PLAYBOY: Your only interest is money?

COWELL: That’s the only thing we think about: Will it make money? And not just for us — for the artists as well. Let me tell you, artists are as interested in making money as we are. They’re not donating their money to charity, trust me.

PLAYBOY: What do you do with all your money?

COWELL: Mainly buy houses. I have four. I love houses. [...] My extravagances in life are cars and houses. I take only one vacation a year.