The ‘X-Factor’ might be suffering from lower ratings this series, but Simon Cowell still thinks he’s got enough acts to make him a load more money once the show finishes. The music mogul, who was honoured at the Music Industry Trusts Awards on Monday night, has also recently extended the deal for his Syco record label with Sony for six years.

Simon CowellSimon Cowell predicts success for five current ‘X-Factor’ contestants.

Speaking to The Mirror about the current Cowell said, "Most importantly I've seen three, four, five artists that could not only win, but will go on to sell records, a lot of records.” The judge also spoke about last year’s winner Ben Haenow, who has just released his debut album.

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"The album is number one on pre-sale, so I'm happy. (But) I think the record came out a week too early,” he said. When asked if he was willing to change ‘The X-Factor’s’ format if it becomes "shambolic" again, Cowell said he was planning to make changes following this season’s judges houses.

"Of course, that's my job [but I also need to] focus on what we need to do, which is make the contestants better. I think some of them could look a bit better but I'm not going to say who. But that's part of the fun of making the show every week,” he added.

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On Monday evening Cowell was honoured for his career at the Music Industry Trusts Awards, where he paid tribute to his 20 month old son Eric. "I hope he will be standing here in 23 years time as I'm being wheeled into the Grosvenor House Hotel on my second pack of cigarettes,” the 56 year old said.