The X Factor boss, 60, believes the the new set of characters he’s developed with son Eric will create a legacy to rival Walt Disney’s world famous characters such as Mickey Mouse and the rest of the Disney gang.
Simon has already announced he is creating a series of children’s books with Eric, six, but he’s already thinking ahead to their next project.
According to Sunday People, Simon is launching a range of spin-offs based on the Wishful Creatures books including films, computer games, puzzles, cuddly toys and clothing.
With The X factor taking a year off from our screens, it looks like Simon, who has amassed a £385 million from pop music and reality TV, will be keeping busy with his new career.
A source told the publication: “Kids’ entertainment and education is a huge business and Simon fancies a slice of the pie.”
Wishfits are described by Simon as “magical and unusual creatures which have evolved in a weird and wonderful way, combining two different species to from hybrid animals with very distinct characteristics”.
The first three novels will be published in 2021 by Hachette, with a cut of the profits going to Shooting Star Children’s Hospices and Together for Short Lives.
The source added: “Simon is always ahead of the curve when it comes to new trends in entertainment and he sees how lucrative the children’s market is and there is room for another big player.
“He wants to take this project and make it the next phenomenon just as Walt Disney did for animation and leave a legacy and entertainment empire for son Eric.”
Speaking about his new project, Simon told Variety: “To be able to write a series of books with my son Eric has been magical.
“Every evening, the two of us would think of the most unlikely animal we would like to have as a pet.
“We would come up with some very strange new animals… [And I was encouraged] to turn this into a book series.
“I met with an amazing company called Tongal who have a global community of creators.
“We loved the idea of thousands of creative people being part of the development of our idea.
“The reaction, support and imagination we got back was truly inspiring and helped us to bring this to life.”