It's the last dance time for "American Idol."

Entertainment Weekly reported Monday that the popular singing competition will raise its curtains for the final time this 15th season.

"American Idol XV" is slated to have the same panel of judges in Jennifer Lopez, Keith Urban and Harry Connick Jr., with Ryan Seacrest once again serving as the host. Fox executives add the final season will pay tribute to all the show's previous seasons.

It was once dubbed the network's "Death Star" because the show posted such strong numbers it easily obliterated all the other shows that dared to air during its time slot. At its height in 2006, "Idol" drew an audience of more than 36 million viewers for its season finale.

Since then, however, ratings for the show have slipped nearly every season. This year's show delivered a series low of 11.6 million viewers. While those numbers are better than other shows that will survive, the declining numbers coupled with the staggerings costs incurred in producing the show made the decision 0f pulling the plug that much more palatable for the network.

Among its greatest compliments are all the shows that have followed in "Idol's" footsteps. ABC's "Dancing with the Stars" and NBC's America's Got Talent" and "The Voice" are all spawns of the show that made Simon Cowell a household name in the United States.

Over the years, Paula Abdul, Randy Jackson, Mariah Carey and Nicki Minaj have also served as judges. Carrie Underwood, Kelly Clarkson, Jennifer Hudson, Fantasia Barrino, Jordin Sparks, Ruben Studdard, Katharine McPhee and Taylor Hicks emerged as some of the competitors who have gone on to have some of the biggest careers.

TMZ adds airing for the final season will commence in January 2016.