"X Factor" USA will be back for its third season. With Britney Spears and Demi Lovato joining the group, Simon Cowell is ecstatic.

Last Monday, Simon Cowell and Fox network made an announcement regarding, next week's highly anticipated reality talent show.

"I couldn't be happier about the X Factor already being renewed for another season. I am so proud of the show and the team who have made it this season," Simon said in his statement. "Most importantly, I have to personally thank our amazing fans for the support and enthusiasm they have given to The X Factor. Our main commitment will always be to find great talent, and let's not forget, we are now days away from our first live shows. The gloves are off! Expect fireworks!"

According to records gathered by Fox, "X Factor" is averaging around 10.6 million viewers per episode. The decision to bring in pop star Britney Spears and Demi Lovato in the show definitely paid off. The show is now listed among top five entertainment shows among teenagers.

"This season, Simon and the producers of The X Factor took an already strong show and made it absolutely fantastic. The format changes are working, the contestants are unbelievably talented, and Britney and Demi - alongside Simon and L.A [Reid] - have brought an incredibly fun new chemistry to the judges' panel that our fans really love," Mike Darnell said, President of Alternative Entertainment at Fox.

The first live show of "X Factor" will premiere on November 1, it will last around two and a half hours and will be hosted by new recruits, Mario Lopez and Khloe Kardashian.

"We feel great about the show and I'm thrilled to bring it back next year for season three," said Darnell.

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