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has signed a £120million deal with as it's been renewed until 2028 - despite plummeting ratings.
After gracing TV screens for almost 20 years and originally drawing a whopping 10million viewers, last month's launch was the lowest ever, attracting just 3million viewers.
And in another brutal blow for ITV, 100,000 less tuned in to the series' second episode.
But BGT is seemingly here to stay as and production partners at Fremantle have signed a new contract to take the long-running talent show past its 20th anniversary next year.
The agreement will also see another Champions special - where the best acts from the ...Got Talent franchise around the world compete against each other - air next year.
A source told The Sun: 'This is a huge vote of confidence in the show, which celebrated the best week of overnight ratings for this series at the weekend.
Britain's Got Talent has signed a £120million deal with ITV as it's been renewed until 2028 - despite plummeting ratings
'It also proved TV execs are looking beyond traditional viewing figures when making strategic decisions. Shows like Strictly have
'They haven't seen that compensated by viewers switching to other ways of watching, whereas BGT's figures for streaming and on platforms such as have gone through the roof.'
The Daily Mail has contacted ITV for comment.
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Britain's Got Talent: The Champions was last
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It was revealed earlier this month that former primetime juggernaut BGT was beaten in the ratings by 's 's Big Show who drew in 3.5million, while 3million watched .
A BGT spokesperson said: 'By Sunday morning, contestant content from the episode had generated 14.5million views with 7.8million coming from contestant Rafferty Coope alone.'
Bookies made it just 2/1 that the Britain's Got Talent will be axed after the current outing ends.
Nicola McGeady of said: 'Gone are the days when Britain's Got Talent was raking in mammoth viewing figures. As the numbers fall, so do the odds and we are now questioning the show's future.'
During Saturday's episode, fans were left outraged after a 92-year-old Oscar-winning film star was axed from the show.
Although the performance did not appear on the main show, the star still featured in spin-off Britain's Got Talent: Unseen.
BGT is seemingly here to stay as Simon Cowell and production partners at Fremantle have signed a new contract to take the long-running talent show past its 20th anniversary next year
Shani Wallis, 92, played the role of Nancy in beloved 1968 film musical Oliver!, which won six .
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, Shani said: 'I was here on this stage 70 years ago but you will probably remember me as the female star of the Academy Award winning motion picture Oliver!'
exclaimed in response: 'Nancy!'
Meanwhile, stood up and said: 'Oh you were Nancy! I know who you are. Of course she's Shani Wallis.'
To which Alesha chimed in: 'Wow, what an honour.'
Shani then proceeded to perform a rendition of As Long As He Needs Me, having memorably sung it in Oliver!
She received a standing ovation from the audience, with Alesha saying: 'This is so beautiful because you are 92 years old doing something that you love so you're my hero. You are an inspiration to all of us.'
Amanda added: 'I am starstruck' and Simon remarked 'I can't believe your age!' while KSI admitted he had never watched the film. He added: 'But I have to see it after this because you sang that beautifully.'
All four judges voted to send Shani through to the next round of the competition.
However, some viewers shared their disappointment that she had not been featured on the main Britain's Got Talent programme.
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