Credit: Photo courtesy of MTV © and TM MTV Networks Photo: Tony and Tea at Northern Soul in Season 1, Episode 2: "Tea"

Update: Sadly, MTV opted not to renew Skins for a second season. Read about the show's cancellation here.

Well, Skins fans, we knew this was coming… As ratings for Episode 2, “Tea,” showed considerably lower numbers and advertisers continue to be wary of the show, rumors of a panicked MTV are starting to emerge. In the public eye, the youth-oriented network is standing behind the beleaguered show.

The network said in a recent statement: "MTV stands by the US adaptation of Skins and the vision of its creator Bryan Elsley. Skins has earned the loyalty of fans across the globe for its thoughtful and honest portrayal of teen life today. An internationally acclaimed scripted drama, the show has been honored with a long list of prestigious awards."

However, one anonymous MTV insider is painting a very different picture. This source reveals that MTV is already talking about cancelling Skins US. The source tells FOXnews.com: “Skins is definitely in danger of being cancelled. …If the ratings aren't great… MTV is not going to risk losing advertisers over one show.” Eek, conflicting reports are never a good thing, folks.

The only way a show can remain safe in the world of TV is by bringing in the viewers. The formula goes: ratings = advertisers, advertisers = money, money = happy execs and renewed programming. And since the ratings for the second week of Skins was about half that of the first week — thanks, PTC! — the adventures of Tony, Tea, and the rest could be on the chopping block.

And remember, Season 1 of Skins US is only 10 episodes long, which means there’s not much more time for the show to prove itself to the haters. So, we’re in the zero hour: Tune in and save Skins!

Source: FOXnews.com, Lifeline Live