How are your favorite FOX TV shows doing this season? Which ones are hits and which ones are in danger of being cancelled? You might be surprised. By looking at the chart below, you’ll be to see their current season ranking, ratings averages to date, and their grade in the all-important 18-49 demographic.

There’s lots of information that the networks take into consideration when deciding whether to cancel or renew a TV series but the ratings are the main ingredient. (Wonder if your favorite’s already been renewed or cancelled? Visit our FOX 2011-12 show page.

These charts incorporate final ratings data through Friday, June 1, 2012.

Here’s the Summer 2012 report card.

Original ratings data ©The Nielsen Company. All Rights Reserved.

A couple of notes about these charts:
The averages included in these charts are based on the final numbers, not the fast affiliate ratings that are typically reported the morning after. The final numbers become available about a day after the broadcasts or, in the case of Fridays, weekends, and holidays, several days later. The charts are updated as the new data is made available.

Keep in mind that the demo numbers are what’s most important to advertisers and therefore, that’s how the networks measure success. Agree with it or not, advertisers pay more for ad time on a show that has a higher demo rating versus one with a lot more overall viewers.

Demo numbers are reported by Nielsen using the 10ths decimal place (2.4, for example). We used to round the averages to the tenth place as well but that ultimately ends up making it harder for our readers to track any upward or downward movement week-to-week. It can also be a little misleading since a show with a 2.35 average and a show with a 2.44 average will both round to a 2.4 rating.

So in this chart, we’re including the demo average rounded to the 10th (2.4) as well as the 100th place (2.41) in parenthesis so you can get a better idea of how the number’s been affected by the latest episode’s demo rating.

The letter grades are relative and are based on the individual network’s demo performance. All of the networks have very different gauges for success right now. (A successful show for The CW would get quickly cancelled on CBS.) Our system for coming up with letter grades isn’t perfect but it should still give you an idea of where the different shows stand. The closer a show is to the bottom of the list, the more chance it has of getting cancelled.

*The grades for TV series that run on Friday and Saturday nights are weighted a little differently, to compensate for airing on little-watched nights.

What do you think? Are surprised at who’s doing the best and who’s doing terribly? Are any of your favorite shows in danger of being cancelled?