What have music impresarios Sergey Diaghilev, Malcolm McLaren and Simon Cowell got in common? – and what sets them apart? asks Peter Rosser.

"The story of how Cowell came to love ‘Jedward’ is the story of how capital, given enough time, consumes even that which appears to be inconsumable." Despite its cheapness, music is the winner in The X Factor, argues Stephen Graha