'The X Factor' has been dropped by ITV, a recent statement from the network indicates.

The future of 'The X Factor' has looked in jeopardy for a while now.

The show debuted in 2004 and last aired in 2018.

Now an ITV statement has given a damning indication.

It says: "There are no current plans for the next series of 'The X Factor' at this stage."

At the height of its popularity, the singing competition series regularly pulled in 12 million viewers.

But the numbers tuning into the ITV show have fallen drastically.

An insider told The Sun: "Globally, it is still a phenomenon and rakes in millions every year. But in the UK, there is no question it has become slightly stale.

"Simon remains at the top of his game and knows how to make a hit. He owns the rights to the show, and it’s his call — not ITV’s — whether or not he drops it.

"Clearly the last thing he wants is for 'X Factor' to fizzle out with a whimper and become a bit of a joke — especially in contrast to the show in its pomp.

"It is still on the back-burner and there’s the option to return it in 2023, with auditions next summer, but a lot will ride on his new format 'Walk The Line'."

'Walk the Line' sees contestants perform in front of Cowell and a celebrity judging panel.

Then the top two performers must decide whether to cash out or stay in the competition, and risk losing the money if they're eliminated at the next stage.

'The Sun's source added: "Obviously the door is not shut entirely on 'The X Factor', but everyone is very much concentrating on finalising new and exciting formats, rather than looking back at the past.

"The feeling is that whilst it will continue to air internationally it won’t be returning over here."