Simon Cowell Signs 'X Factor' Finalists 5 After Midnight

Well, it looks as though you don't have to actually win The X Factor to win The X Factor, although I suppose that isn't exactly anything new. Following in the footsteps of 2010 third-place finishers One Direction, 2016 third-place finishers 5 After Midnight have signed with Simon Cowell and his record label, Syco Records.

Although the group wasn't his act -- instead belonging to mentor Louis Walsh in the Groups category -- Cowell reportedly sees dollar signs with the young men -- Kieran Alleyne, Nathan Lewis and Jordan Lee.

"Out of all the artists he thinks 5AM have the biggest gap in the market to play with," a source told The Mirror. "There are very few boybands around at the moment and even fewer urban boybands who dance.”

This makes the boys the second act to be signed to a record deal, other than winner Matt Terry, as fifth-place finisher Honey G earned herself a one-track deal (with the option of a full-blown record deal, if the single performs well).

"I am ecstatic to announce I have been Signed by SYCO, Simon Cowells record label and will be releasing my first single on 23rd December," Honey G announced last week. So it looks like she'll be competing with Matt Terry to be the first X Factor finalist in two years to hold the Christmas No. 1, following in the footsteps of Ben Haenow, who topped the charts with "Something I Need" in 2014.

But outside of the race for Christmas No. 1, it's encouraging to know that 5 After Midnight's hard work paid off. Now, all we need is for Saara Aalto to get signed. Here's hoping!

What do you think about 5 After Midnight getting a record deal? Who else from this year's Top 12 deserves a record deal? Sound off in the comments!

And for more X Factor news, get the shocking vote totals for the ENTIRE season of The X Factor UK 2016!