‘The X Factor’ USA: First photo of Demi Lovato, Britney Spears

Meet the new panel.

It’s been a long time coming, but on Monday Simon Cowell finally made it official — both Britney Spears and Demi Lovato are going to be joining him and L.A. Reid as judges on “The X Factor” for season 2.

Simon (who just arrived in America following his “Britain’s Got Talent” gig) posted the photo to the left of this article shortly after the announcement was made, and also said the following about the show in a press conference:

“We started up well last year, but this year we are going to seriously kick butt.”

Spears and Lovato (who were brought in as replacements for Nicole Scherzinger and Paula Abdul) were each very much excited about the opportunity to appear on the show, and said that they were looking forward to finding the next big star in music. Auditions for “The X Factor” are set to film in the coming months, and the show will launch its full season this fall. Will the show fare better following some disappointing season 1 ratings? Considering that you have a music icon on board as host along with one of the most-popular young stars in music, you have to believe that there will at least be some heavy interest at first.

If nothing else, Simon is clearly putting his money where his mouth is when it comes to putting on the best show possible — and when you remember that NBC is going to be launching “The Voice” this coming fall to compete, he is certainly going to need to do everything he can in order to make this show a hit.

Are you excited to see this new season, and do you think Britney and Demi are a natural fit as judges? (Update: You can now check out a video featuring the judges below via TMZ.)

Photo: Twitter

Love TV? Be sure to like Matt & Jess on Facebook for more updates!