ITV has reportedly given the go-ahead to a third series of The Masked Singer following the success of the current run.

The show, which sees mystery celebrities perform musical numbers from behind elaborate costumes, has become a bona fide ratings hit for ITV, consolidating to over 8 million viewers in recent weeks.

According to the Daily Star, ahead of the finale this weekend the broadcaster has already ordered the third series and is also keen to tie down host Joel Dommett to an improved deal.

"After some discussions, ITV agreed to splash the cash for another series. The format is such a hit with viewers, so they know it'll be worth it," a source told the newspaper.

"They are already making plans for when to film it and which celebs they'd love to sign up. They want the third series to be the best yet.

"Joel's popular with viewers so bosses are keen for him to stay on as host. And they're prepared to bump up his fee to keep him."

ITV is also said to have bought the rights to spinoff series The Masked Dancer in recent weeks.