Will MTV's controversial teen-age based drama Skins be taken off air amid advertiser and ratings woes as well as ire from media watchdog group?

Skins is losing advertisers faster than some of its characters lose their clothes, said a Fox News report.

The show, which premiered on January 17, is in the midst of criticism for its racy teenage depictions of casual sex and drug use.

The Parents Television Council (PTC) last week called on the U.S. Senate and House Judiciary Committees and the Department of Justice to open an investigation regarding child pornography and exploitation on Skins.

The media watchdog group has said the program glorifies teen drug and alcohol abuse, in addition to sexual content involving minors that could actually be illegal. It called the show as the most dangerous program that has ever been foisted on your children!

In addition to the sexual content on the show involving cast members as young as 15, PTC counted 42 depictions and references to drugs and alcohol in the premiere episode.

According to PTC, the episode on Jan.17 included all manner of foul language, illegal drug use, illegal activity as well as thoroughly pervasive sexual content. Moreover, future episodes promise much more of the same.

The show also lost a numbers of advertisers, including: Taco Bell, Wrigley, Subway, Foot Locker, L’Oreal, Shick, General Motors and H&R Block.

According to the Fox News report, Skins could reportedly lose MTV up to $2 million per episode, lacking a stable of advertisers to sponsor the show.

Skins is definitely in danger of being cancelled, if the ratings aren't great, said Fox News, quoting an MTV insider. The show could be taken off the air - for good.

Skins follow a group of nine friends navigating the often-tumultuous world of high school, involving sex and drugs. It attracted over 3 million viewers out of which 1.2 million were in the teen category of under 18.

The program lost about half its viewers for its second episode on Monday to only 1.6 million viewers from the 3.3 million on January 17.

MTV defended the show, saying: Skins is a show that addresses real-world issues confronting teens in a frank way.... We are confident that the episodes of Skins will not only comply with all applicable legal requirements, but also with our responsibilities to our viewers.