X Factor‘ has a big budget for its next fall season because it has big expectations and big names attached to it. Britney Spears and Demi Lovato made their positions on the judging panel official yesterday (May 14). While it’s been widely reported that Spears was pocketing a cool $15 million for her spot, Lovato’s negotiations weren’t made so public … until now. How much is she taking home?

TMZ reports that Lovato will take home a little over a $1 million for her work on the Fox show. Spears took a huge chunk of the show’s budget, but Lovato’s no slouch!

Yesterday Lovato expressed her excitement about the job at the Fox Upfronts. “I am totally stoked to be here, because of not only the opportunity to be a judge, but the presence of you guys,” she told the audience, looking at her fellow judges. “It’s just an honor to be standing next you. I’m excited to represent my generation, and I’m ready to find the winner!”

Simon Cowell reportedly is impressed with everything that the ‘Give Your Heart a Break’ singer has accomplished within her 19 years. He’s also excited that she’ll connect with — and thus draw more viewers from — a younger audience. Lovato was so excited herself about the gig that sources say she even scheduled her tour around the show’s tapings. What a pro!