One Direction earn $118 million a year

The stars of One Direction earned $323,200 a day last year (14), according to newly-released documents.

Financial records for the boyband's company, 1D Media, have been released and the documents reveal the group earned $118 million in 2014, with profits of $72.5 million .

The figures show the singers made $323,200 a day over the 12-month period, giving them a daily pay packet of around $30,400 each.

Zayn Malik, who quit the band in March (15), still has a share of the profits.

"Cynics have always described 1D as Simon Cowell's cash cow and, seeing these results, it's not hard to see why," a source tells British newspaper The Sun. "There's no question bosses work the lads hard, but the financial rewards are astonishing.

"The band get very well paid, so they can hardly complain. They are easily (Cowell's company) Syco's biggest success story."

The band is set to go on hiatus in March (16) following the conclusion of their latest tour and the upcoming release of album number five, Made in the A.M., in November (15).

The album's release date puts One Direction head-to-head with pop star Justin Bieber, who launches his latest pop offering on the same day, and the impending chart battle has sparked a public war-of-words between the two acts.

After the album's release, the boys are planning on starting their break with a vacation together.

"There's no doubt we'll see plenty of each other, we're gonna plan to go on a little lads' holiday," bandmember Louis Tomlinson told U.K. show Good Morning Britain.

"Actually it's just the day to day things (I'll miss), we are like a family now, so it's the company that you're used to, it's like leaving school and leaving your friends behind."