The pair's new series has shed almost 2m viewers since its launch on February 27, with the most recent edition attracting an audience of 4.89m on Saturday.
However, in an interview with the Daily Star, the duo said that the show needs a chance to grow before being written off by critics.
Ant McPartlin explained: "Remember for us, this was just episode three of series one. I think our show is getting better and better."
Meanwhile, Declan Donnelly added: "The general reaction is that people like it. And we are certainly having fun filming it."
The stars also revealed that fans can expect their Saturday Night Takeaway format to return to ITV1 at some point in the future.
Dec confirmed: "We don't know when yet, as we have to fit it into our schedule."
> ITV defends Ant & Dec's Button ratings