One of the producers of the new V thinks there’s still a chance that TV show will be renewed for season three. On the show’s official Facebook page, Steve Pearlman wrote: “Despite what you read online, the ratings for V have been OK and the show has a chance of being renewed for a third season.” Is that really true?

For season one, V ended up averaging a 2.25 rating in the coveted 18-49 demographic and 5.7 million average viewers. It was “on the bubble” but ended up being renewed for season two. ABC has a history of taking a chance on struggling freshman shows and decided to bet on this one over lower-rated FlashForward. Sometimes the network’s gambling pays off (Castle) but usually, it doesn’t (Samantha Who?, Better Off Ted, October Road, etc.).

After ABC ordered 13 episodes for season two, the network cut it back to 10 installments. That’s not a good sign but ABC execs supposedly felt they just wouldn’t need as many episodes because of the bevy of original programming they already have. Lots of this season’s new and returning shows haven’t even premiered yet because there’s no room on the schedule.

So far this season, V has been pretty consistent and has averaged a 2.0 in the demo and 6.02 million viewers. While that’s an increase in total viewers, that’s a drop in the key demo which is what really counts. V is currently the second-lowest rated scripted show on the network, just above Detroit 1-8-7 and just below No Ordinary Family.

So, Pearlman is indeed correct that a third season is still possible but, unless the ratings improve, it seems unlikely. ABC gave the series a chance last time and the risk hasn’t paid off for them so far. The ratings have dropped, not improved. If they’re going to take a gamble on a struggling show for next season it would make more sense to try another one.

What do you think? Will the V ratings improve? Will ABC give the series another chance — season three — or will it be cancelled?

Image courtesy ABC.