'X Factor:' Simon Cowell Admits He Set Ratings Expectations Too High

NEW YORK — Simon Cowell acknowledges that he regrets saying ratings less than 20 million for the U.S. version of The X Factor would be a failure.

our editor recommends

'American Idol' Creator Sues Fox For Millions in 'X Factor' Money (Exclusive)

'American Idol's' Nigel Lythgoe Slams Twitter Followers Over 'X Factor'

'The X Factor': Simon Cowell Produced, Will Star in Three-Minute World Premiere Clip to Air During All-Star Game (Exclusive)

PHOTOS: Behind the Scenes: THR's 'X Factor' Cover Shoot

The show's September debut earned 12.5 million viewers, which was less than the premiere of the comedy Modern Family, the leader of the night with 14.5 million viewers. The X Factor held those numbers for the second episode. In week two, ratings hovered around 12 million viewers for each episode.

ANALYSIS: Forget Ratings Worries -- Judge X Factor On Its Content, Promise

"I'm not going to lie. I wanted 20 million when we launched," says Cowell, "but now I'm kind of back in the real world and I'm seeing this grow naturally. I'm as happy as I've ever been."

STORY: Simon Cowell's 'The X Factor' Premieres Lower Than 'American Idol'

The show is Cowell's baby. Besides being a judge on its panel, he is its creator and an executive producer.

X Factor has a lot of competition not only from other TV shows but also in persuading viewers to invest in another TV talent competition like Fox's American Idol and NBC's The Voice, which averaged 12.6 million viewers an episode in its first season earlier this year.

PHOTOS: 'The X Factor': First Look at Simon Cowell's New Judging Team

Cowell says he "got a buzz" when he heard about The Voice.

"We're not in Russia where you have one show. This is life. If you're competitive and it spurs you on, I kind of get excited by it."

PHOTOS: Fox's New Season TV Shows: 'Terra Nova,' 'The X Factor' and More

This week on The X Factor, contestants will advance to the boot camp round of the series. Singers travel to Los Angeles to once again sing for the judges and a live audience as they are critiqued on various aspects of performing.