Britney Spears and Demi Lovato confirmed on the judges' table for The X Factor

Pop stars Britney Spears and Demi Lovato have officially been confirmed as new judges on Fox's singing competition The X Factor. The network announced the news at their live upfront event for advertisers on Monday, May 14 when finally confirming the long-stirring rumors, satisfying fans' pleasure.

"I couldn't be more excited to join The X Factor judging panel. I'm a huge fan of the show and now I get to be a part of the action," said Spears in a press release. "Simon and L.A. better watch out!" Earlier in the day, Spears had tweeted a picture of herself hanging with fellow judges L.A. Reid, Simon Cowell and Lovato. "I'm so thrilled to join this legendary group of judges on The X Factor," added Lovato. "To be able to spend each week with Simon, L.A. and Britney watching the best that America has to offer is truly a dream come true." The singers are replacing last season's Paula Abdul and Nicole Scherzinger, who both confirmed at the end of the show they are set to leave the judges' table. Spears is reportedly pocketing $15 million for just one series, while former Disney Star Lovato's pay cheque is still a secret, for now.

"I'm absolutely delighted Britney and Demi are joining us," fellow judge Simon Cowell also said as part of the announcement. "Britney remains one of the biggest starts in the world. She's talented, fascinating - and I believe she knows exactly how to spot the X Factor," Simon added, before moving on to discuss fellow new addition Demi Lovato. "Demi's had an amazing career in music, TV and film for someone her age. She's young, confident and enthusiastic. I think it's really important that she speaks to our younger audience," he also explained. "The new panel will be dynamic and will work really well with the changes we are making to the show."

Simon Cowell's talent competition made its first U.S. appearance last year, with young vocalist Melanie Amaro winning the first season. The premiere date for the next season has yet to be announced.

Music video: Britney Spears "Criminal"