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One Direction Signs Lucrative Three Year Recording Contract

One Direction fans, you'll be able to scream your lungs out for at least three more years -- thanks to a big-bucks record deal that will keep them making music through 2016.

1-D just got $10 million to renew their contract with Simon Cowell's Syco imprint -- which signed them after their third-place finish on Britain's X Factor in 2010. They'll deliver two new albums and a greatest-hits set, in addition to Midnight Memories, which is due for release in late November.

A source close to the group tells London's Sun, "This is a big deal for Simon and the lads. It shows confidence that they have a long-term future and that a split or members going solo is highly unlikely."

Filed Under :
Location : London
People : Simon Cowell