Holly Willoughby looked nothing short of sensational as she hosted the Dancing On Ice's semi-finals on Sunday evening, amid fears the show could be facing the axe.

The broadcaster, 44, slipped into a stunning red strapless gown which hugged every inch of her jaw-dropping figure. 

Holly's dress also boasted a floral embellishment, forgoing a necklace letting the outfit speak for itself opting instead for a pair of dazzling diamond earrings. 

She slipped her feet into a pair of perfectly coordination heels and styled her blonde locks into loose waves.

Sunday's show saw finalists Michaela Strachan, Anton Ferdinand, Sam Ashton and Dan Edgar are set to battle it out to secure a place in next week's final. 

And the pressure is on for show bosses too, after a source told The Mirror there are concerns behind the scenes that falling viewership could spell the end for the series after 20 years on air. 

Dancing On Ice has lost over a million viewers in the last two years, with its 2023 launch drawing in 4.1million yet no episode this series has made it above 3million. 

A source said: 'There are very real fears this is the end of the road for Dancing on Ice. It's had a good run for nearly 20 years and has a very loyal set of viewers who really love it but the sad truth is there's just not enough of them. 

'We need bums on seats but the ratings have dropped to a point where it's difficult to justify the cost. 

An ITV spokeswoman told the publication: 'The Dancing on Ice team is fully concentrating on the much anticipated series finale this coming Sunday and therefore no decision has been made.'

MailOnline has contacted representatives for Dancing On Ice for comment. 

Another issue ITV producers will have to contend with is the show's host Holly is reportedly keen to expand her career and try new things. 

The future of Dancing On Ice was thrown into doubt ahead of this series after the head judges Jayne Torvill and Christopher Dean revealed they are ready to hang up their skates. 

The confession comes as the ITV show is set to return to screens in January, but beyond that the future of the show is known. 

Ratings for the competition have been falling steadily over the years and the former Olympic gold medalists are readying themselves for retirement, according to the Mirror. 

This could mean that the show's 17th series is it's last almost 20 years after it first aired. 

But before the duo skate away in to the sunset, they will do a final tour next year, and they will continue to judge the celebrities as they take to the ice. 

The pair's possible departure from the show could be the final nail in the coffin as the competition would lose one of its biggest draws, despite their plans to stay on as coaches and judges. 

Chris told the publication that the future of the show will be known by the end of the series. 

He said: 'By the end of the series we'll know. We would love the show to continue. It's been a renaissance for us. 

'It started 2006 so it's almost 20 years of our life as well. We've been doing Dancing On Ice longer than we did as competitors.' 

His partner Jayne explained: 'We were part of it from the beginning.' 

Speaking in Prima magazine's January issue, Jayne and Chris spoke about their plans to hang up their skates - and what that could mean for the ice dancing show they inspired. 

The pair, known as Torvill and Dean, rose to fame when they won gold at the Sarajevo 1984 Winter Olympics with their iconic skate to Maurice Ravel's Boléro - which is replicated each year by the Dancing On Ice finalists. 

The skating stars delight Dancing On Ice viewers each year as they themselves take to the ice.

But they confirmed that will no longer be a feature if the show does continue beyond this series.

'If Dancing on Ice continues after the next series, we will still be part of that, but we won't be performing within it as we normally do,' Jayne said. 

'We'll just be there for the judging.'