After weighing the numbers carefully, ABC has renewed 'Nashville' for a third season.

ABC's Ben Sherwood announced the network's decision late Friday (May 9) via social media.

According to the Hollywood Reporter, the show struggled in its second season, posting solid, but unspectacular numbers. The ratings for 'Nashville' were down 4/10 of a point -- around 500,000 viewers -- in the key adults demographic, but the failure of a number of freshman ABC series this season gave the show more room to return to the schedule.

Multiple revenue streams have been a key factor in the success of 'Nashville' -- though the show is not a runaway ratings hit, the additional revenue the network has earned from song downloads, the release of several soundtracks and even a recent live tour featuring cast members has helped keep the show profitable for the network.

ABC has ordered 22 episodes for the show's third season. Despite reports that the drama may move from Nashville to another filming location for the upcoming season due to proposed dramatic cuts in the tax incentives offered by the state of Tennessee, Deadline reports the show's producers are planning to keep filming in Music City, contingent on the state offering more financial incentives now that the show has actually been renewed.