And it involves rollercoasters…
The X Factor has been a family favourite for as long as we can remember, but it's a well known fact that ratings have been dwindling in recent years.
Last year, rival Strictly Come Dancing absolutely hammered the singing show in their battle for viewers, as X Factor's popularity fell to its lowest ever point. It pulled in a disappointing 7 million viewers in its final episode (that's a whopping 1.4 million less than in 2015), and to make matters worse, their winner Matt Terry has already pretty much fallen off the radar.
However, Simon Cowell is no quitter, and in a new scheme to save his singing competition, he's set to make some raaaather drastic changes.
Now, we know what youre thinking. Does this mean the judging panel is getting a shake up again? We don't think we can bare another failed stint like Brian Friedman circa 2012, LOL.
But have no fear. Because according to Simon, that's pretty much the only thing which isn't getting changed. Yep, we can expect Sharon Osbourne, Nicole Scherzinger and Louis Walsh back on the panel this year along with the big boss himself. Phew.
You're safe this time, Lou Lou
So what ARE the changes then?! What could Simon possibly be doing to make things fresh and exciting?
Well, let's just say you might be surprised…
Firstly, The Xtra Factor is getting scrapped (we know, poor Rylan Clark and Matt Edmonson). The show bosses claimed they're ditching the show through no fault of the previous hosts, but to "focus efforts on digital platforms".
And secondly, in a bid to win back viewers, Simon has decided to completely re design the structure of the show: cutting live shows from ten weeks to six, introducing even more star guests and adding eliminations on both Saturday and Sunday nights to keep a steady flow of excitement.
We're overwhelmed too, tbh.
Bye Bye Honey G
But that's not all. The ITV bosses have also suggested they would like to steer away from 'novelty' acts such as Honey G and Jedward, in order to stop the show being seen as a "laughing stock".
Taken a leaf from The Voice, have you Si?
Plus, he'll place boot-camp in front of a studio audience, and (most bizarrely), hold auditions at Thorpe Park…
An X Factor source told The Sun: “Ratings plummeted and Simon knew a drastic revamp was needed. The Saturday night show became so tedious as there was rarely any drama which an eviction would bring.
“ITV believes transforming it is the right decision."
We don't know about you, but we're happy with any change which could mean we'll get to see Louis Walsh riding on the white water rapids...