Simon Cowell is 'planning to launch a new talent show on Netflix'

Simon Cowell is apparently drawing up plans to create a new talent show to rival Britain's Got Talent.

The music mogul is currently 'weighing up his options' and considering taking his new show to a streaming platform such as Netflix, rather than a terrestrial channel.

According to The Sun, Simon has told friends he is 'sick of competitors trying to out-do the brand, so decided he would do it himself.'

A source revealed, 'Simon is constantly thinking creatively of new ideas and shows, innovating and evolving all the time. He's vowed that his next show will be bigger and better than BGT.'

They added: 'He's weighing up his options. Simon has a big vision and the likes of Netflix have hundreds of millions in their coffers to help make it a reality.'

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This comes after Simon, who is dad to son Eric, reportedly cancelled his upcoming appearance as a judge on X Factor Israel.

Simon was due to feature on the Israeli talent contest's upcoming season this summer, however 'cancelled for his own reasons'.

He returned to the America's Got Talent judging panel after breaking his back in a horrific bike accident last year.

We're excited to see what Simon does next!