X Factor US Winner To Recieve $5 Million Record Contract

The winner of the X Factor US will receive a $5 million recording contract, it has been revealed.

The US version of the UK reality talent show, which airs in the Autumn, will have the biggest guaranteed prize in television history, BBC Newsbeat reports.

''The top contestant will get $1 million (£619,000) a year for five years, separate from the costs involved in recording and promotion,'' Simon Cowell said at a press conference.

He added: "It's a massive, massive risk but it's also an incredible incentive. It puts everybody, rightly, under an enormous amount of pressure.''

"If they don't sell a single record they still get to keep the money. It is pressure, because if the wrong person wins, I'm in trouble.''

A number of famous faces are rumoured to join Simon Cowell on the judging panel, including Rihanna, Cheryl Cole and Lady Gaga.

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