"Every generation deserves a megastar boyband and I don't think there has been one to have the success of One Direction in over 14 years. The industry tends to focus on solo artists - so it usually takes someone from outside to put a group together," the music mogul said in a statement inviting wannabe pop stars to audition.
Simon's attempts will be filmed for a "potential documentary series" produced by Box to Box Films. It's been reported that the show will be released on Netflix, although this has not been confirmed.
What is Simon Cowell's new show?
Details about Simon's upcoming show have been kept under wraps so far. However, it's believed that, unlike The X-Factor, the new programme will be a documentary.
Speaking about his search for the next big band, Simon said in a statement: " Nothing beats the fun of being in a group , touring the world and performing for thousands – and it's also a brilliant launchpad for a solo career. When you have a great group, it's like lightning in a bottle but there's no magic formula and a fair bit of luck involved!"
The 64-year-old continued: "There's always a high degree of risk and I genuinely have no idea what’s going to happen! We might uncover an incredible group; we might not get there. What if no one shows up to auditions? That could be awkward. There is no guaranteed path to success – anything can happen, but that's what's exciting for me and that's why I'm doing this."
Auditions kicked off in Liverpool on Saturday (6 July), with Simon seeking talented young men aged 16-18 who possess the " passion, charisma, and star quality to form the next boyband sensation ".
In an exclusive chat with HELLO! at the Emirates x HELLO! All Love Luncheon at Wimbledon last week, Simon's fiancée Lauren Silverman shared her hopes for the show. "[Simon's] super busy. He's doing a boy band show and is on the hunt for the next 1D (One Direction). He's going to Liverpool for a few days for auditions," she said, adding: " We're all really excited for him. Hopefully, it's going to be great ."
While Simon is used to seeing thousands of people queue up for a chance to audition, it appears that only a small number of men lined up at the Albert Dock venue.
According to The Sun , just a handful of pop wannabes turned up, with the queue never amounting to more than 40 people.
Despite this, Simon viewed the weekend as a success. Taking to Instagram, the TV judge shared his excitement about the journey ahead.
"Liverpool. Thank you! I knew we had to come to your city and you really did deliver," Simon penned. " Thank you to every single one of you for turning up , and showing me and my team the huge amount of talent out there. It's very inspiring to see how many of you really want this.
"No matter what, we will see everyone who shows up for us. Just be yourself!"
Simon will be heading to Dublin for the next set of auditions, held on the 28th and 29th of July, before travelling to London for three days (1st, 2nd & 3rd August).
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