Matt Cardle's X Factor triumph watched by 20 million viewers

And the winner of the X Factor is...? EVERYONE - Favourite Matt Cardle set to rake in £5million next year and all finalists will receive £1million contracts

By Sarah Fitzmaurice
Last updated at 7:15 AM on 13th December 2010

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As favourite to win the X Factor final tonight, Matt Cardle’s dreams are about to come true.

Winning the talent competition will not only bring fame but a considerable fortune with 27-year-old Matt tipped to earn £5million in 2011.

And the runners up won’t do badly either as they are all set to receive record deals worth at least £1million.

Lucky: Grinding with Rihanna and set to earn £5million? Matt Cardle has hit the jackpot

Music mogul Simon Cowell will give the seven figure contracts to Matt, One Direction, Rebecca Ferguson and Cher Lloyd, 17, regardless of the result, according to News of The World reports.

Irish warbler Mary Byrne is also set to be a beneficiary of Simon Cowell’s music empire and will be given a million pound record deal despite not reaching the final.

A ITV source told NOTW: ‘By tomorrow all five will be celebrating. Every one is being signed for over a million, their lives have all changed.’

In the money: Rebecca Ferguson and One Direction will bag record deals worth over £1million

Could it be magic: Robbie joins the One Direction boys on stage for a rendition of Angels

Simon Cowell told the paper: ‘They’ve all got something they are all brilliant.’

In previous years Cowell, 51, only signed one other act in addition to the winner, and even winning the top spot never guaranteed success, anyone remember Steve Brookstein or Leon Jackson?

The winners from the first and fourth series have faded into pop oblivion.

International superstar: Rebecca Ferguson and Christina Aguilera belt out Beautiful as Simon builds the X Factor into a global brand ahead of the launch of the U.S. version next year

No wonder they're smiling: Cher Lloyd and Mary Byrne are both set to receive record contracts

But Matt’s predicted earnings are set to make him the most successful winner ever with predicted earning of £500,000 from modeling contracts, £1million from live performances including the X Factor tour, £1.5million netted from major commercial deals and a whopping £2million from record sales alone.

Excited: Simon Cowell is set to sign five of the acts from this year's XFactor and turn them into stars

One industry insider told NOTW: ‘Before he has wanted to wash his hands of most of the acts. He didn’t even sign JLS.’

‘But he feels there’s a different level of excitement around the contestants this year. He thinks they are superb.

‘He’s going to sign them to his own SyCo label although he’ll get help on a couple from parent SonyBMG.’

And all four finalists had a taste of things to come performing with internationally acclaimed superstars on the show last night.

Cardle hooked up with Rihanna to sing her ballad Unfaithful, One Direction was joined by Robbie Williams, Rebecca sang with Christina Aguilera and Cher rapped with will.i.am, giving them a taste of life at the top.

But attracting such huge performers may be part of Simon Cowell’s bid to make the X Factor brand a global hit.

Ahead of the launch of the U.S. version of the show next September, Cowell is keen to ensure this year’s contestants have international appeal.

A source from the show said: ‘Cher will have a big market in America because of her style of music and Rebecca could have easily followed in the footsteps of Adele, Duffy and Leona Lewis.’

‘He (Simon) thinks One Direction could make it in America just like The Beatles did.’

X FACTOR WINNER ODDS

• Matt Cardle 4/5
• One Direction 2/1
• Rebecca Ferguson 4/1

With Matt Cardle the runaway favourite to win the talent show he is set to release Biffy Clyro’s Many Of Horror and will perform the track during the final tonight.

Rebecca Ferguson will perform Duffy’s Distant Dreamer and One Direction’s single will be Jay-Z and Mr Hudson’s Young Forever should they win.

With all four finalists set to be handed a whopping record contract it looks everyone's a winner.

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