• by David Goetzl  @dgoetzl, August 12, 2009

Simon Fuller is prepping a multiplatform initiative that has an "American Idol" cum "Big Brother" dynamic, with a January launch targeted and an unnamed blue-chip sponsor on board.

Tabbed "If I Can Dream," the production from Fuller's 19 Entertainment will feature five wannabe stars in fields such as modeling, acting and music. The group will live together in a Hollywood house wired with 50 cameras, which will follow their every move inside 24/7 on the Web.

In addition to in-house activity, cameras will trail them to auditions and other tryouts as they chase stardom. Fuller, the head of 19 Entertainment and "Idol" founder, has completed the casting.

On the Internet, some of the in-house feeds will be free, while other glimpses into "more private areas" will have a subscription model, according to the head of 19 Entertainment's parent company.

An "If I Can Dream" TV component is also expected, perhaps revolving around a recap of the previous week's activity a la "Big Brother." Still, deals for distribution avenues on-air and online are being finalized in advance of the early 2009 expected debut.

A rep for London-based 19 Entertainment declined comment.

Robert F.X. Sillerman -- the CEO of entertainment company CKX, Inc., where 19 Entertainment is a unit -- outlined plans for "If I Can Dream" on a conference call with investors this week.

"If I Can Dream" is also the title of a 1968 Elvis Presley song. CKX owns some rights to Presley's music, perhaps facilitating the name.

Sillerman did not cite the sponsor -- which he described as a major international company -- but said it is already signed for the programming. 19 Entertainment is employing at least one successful business model used for "Idol": Signing contracts that drive ancillary revenues.

For "Idol," the company signs the finalists to deals, giving it options for long-term recording and management contracts with them. Sillerman said agreements will be in place for "If I Can Dream." If participants become supermodels, top-notch actors or breakout recording artists, 19 Entertainment will share in the wealth.

"We'll have a continuing relationship with them for their career," he said. In his discussion with Wall Street executives, Sillerman said the production should be cash-flow-positive from the start.