Despite its downshift in ratings, 'The Voice' is reportedly set to pay millions to its new coaches, with Shakira raking in an even higher salary than Usher.

According to The Hollywood Reporter, a source claims that Shakira will be earning $12 million to replace Christina Aguilera on the hit NBC series, while Usher will be paid $7 million to take Cee Lo Green's chair. This season, the ratings for 'The Voice' have been down 35 percent (4.0 vs. 6.2 rating) compared with its first week in the spring, reports the trade magazine.

Shakira and Usher's earnings are certainly in the range of other competitive singing competition shows. 'American Idol' judge Mariah Carey will make about $18 million this season, while one source claims Nicki Minaj will take home $12 million. Britney Spears is also cashing in on her new judges' spot on he 'X Factor,' reportedly earning $15 million for her critiques.

Although NBC declined to comment on the 'Voice' coaches' salaries, one network executive told THR, "These star contracts have turned into Hollywood's version of a nuclear arms race."

Mike Darnell, president of alternative entertainment at Fox offered some explanation for the musical chairs and high-paying contracts. "At the moment, it does feel like it's healthy to have some new blood in the shows every year or so," he said. "It just feels like the audience demands switching it up."

Watch the Shakira 'Hips Don't Lie' Video Feat. Wyclef Jean

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