It’s no wonder Simon Cowell is on the hunt for another successful boyband, when One Direction are proving to be one of the most lucratice acts he has ever signed.

The music mogul put the group together at X Factor bootcamp in 2010, after Liam Payne, Niall Horan, Harry Styles, Zayn Malik and Louis Tomlinson all auditioned as solo singers.

Insiders have reported that the stars have went on to make him a huge amount of cash, after he signed them to his Sony backed record label SYCO.

1D are currently touring America and have topped the charts in over 25 countries in the last year with their singles, albums and DVDs. It all adds up and Chairman and CEO of Sony Music UK, Nick Gatfield, told Music Week that they are a big money business for the company.

He said: “What you might not know about One Direction is that they already represent a $50 million business – and that’s a figure we expect to double next year.”

Not only are the fivesome raking in cash for themselves and Cowell, but there are no less than 90 people employed to look after them and Nick added:

“The team around them – which includes musicians, stylists, producers, tour managers and so on – account for around 90 people.

“That’s 90 jobs created by these five boys.”

Life is good for the lads right now and they are all splashing out on new homes, cars and gadgets….which isn’t bad for a band in which the oldest member is 20 years old.

However, Niall Horan may face some disappointment tonight, as he watched his home team play in the Euro 2012 championship. The Irish football team are playing Spain and in the first few minutes of the match, the Spanish team scored a goal against Ireland.

Horan tweeted:

‘ya know what ireland are unreal at? lettin in goals in the first few minutes of games..class at it’

The blonde cutie will be glad that attention has shifted away from his old Bebo page, which Harry Styles was teasing about earlier today.

Check out the details here.