Music mogul Simon Cowell has revealed that he was a "bit smug" and a "bit too cocky" in 2011. 

Last year was fairly turbulent for the star, who dealt with low ratings of the gameshow Red or Black and the controversy surrounding Cheryl Cole's stint on X Factor USA, but he has now recognised the error of his ways. 

Speaking about the "massive wake-up call" to reporters, Cowell explained: "We all got a bit smug last year, I certainly got a bit too cocky. I ended 2010 on a real high, it was the Matt Cardle year - my favourite year - and the figures for X Factor were huge."

"I did get too arrogant, everyone does. When you have a very good year like I did in 2010 you get a bit cocky. You think you are great, then you get a bit of a smack."

"We went into 2011 thinking, 'It's all going to be easy', and of course it wasn't. It was a massive wake-up call. From BGT, to Red or Black - me making these massive predictions in America... Last year was the year my ego was put in check."

Referring to his hopes for 2012, he added: "It feels like I'm back at the beginning again. I am optimistic - but not so arrogant, I'd say."

Watch part of Cowell's most recent interview on Jimmy Kimmel Live below: