ITV bosses are reportedly thinking about axing The X Factor UK after its tenth series next year.
The current contract between the channel and Simon Cowell's Syco ends after next summer's 2013 run, and declining ratings could spell the end of the show.
Next year will apparently see a big shake up of the series in a last ditch attempt to win back viewers.
The series has gone from its peak with close to 20 million viewers down to 7 million in just three years.
Last Saturday's live show set a record for the lowest rated performance show since the first show back in 2004, putting the current series on course to have the least watched final ever.
A supposed "senior show source" told the Daily Mail today: "We’re battling to save The X Factor right now. If it keeps going like this, ITV might not even want to renew the show after next year."
The newspaper reports that next year's shake up will likely see another refresh of the panel, and maybe even new hosts.
However rumours of a return to the previous line up of judges - including judges Dannii Mingoue and Cheryl Cole - have been ruled out.
A source close to Aussie star Dannii told the paper: "She’s absolutely not looking to return to X Factor."
Meanwhile bookies William Hill have slashed the price of the UK X Factor being axed at the end of 2013 from 10/1 to 2/1. It is 8/1 for the current series to be the last.
“Next year will be the tenth year of the X Factor, ratings are falling and with Simon Cowell concentrating on America, it could be that the show has run its course,” said William Hill spokesman Mark Young.
The X Factor continues with its live shows this weekend with a Best Of British theme.
Sunday's results show will feature performances from One Direction and Little Mix, as well as one more act being given the boot.