Hold on to your cowboy boots! The country-music-themed drama, 'Nashville,' has been renewed for its third season on ABC.

The decision to renew was announced by ABC President, Ben Sherwood via Twitter on May 9 and comes after much deliberation and weighing of economic and ratings factors.

Although the show's ratings struggled a bit in its second season, 'Nashville' can partially thank the power of its music for the third season sign-on. Many of the show's original songs have been successful, leading to revenue from song downloads, soundtracks, and even a live tour with some of the 'Nashville' cast. The music has bolstered the show, which has not necessarily been a runaway hit, but has thrived among a dedicated fan base.

Fans can look forward to 22 episodes in the third season, and despite rumors that 'Nashville' might leave its namesake and shoot elsewhere, producers hope that with the show's renewal, the state of Tennessee will be encouraged to continue offering major financial incentives to keep it in town. With some proclaiming that Music City is a character in itself, it's hard to imagine the show being filmed anywhere else!

The season two finale of 'Nashville' airs this Wednesday (May 14) at 10PM EST.