The former Only Way Is Essex star fronted fly-on-the-wall series It's All About Amy following her stint in the broadcaster's inaugural series of Celebrity Big Brother last year.
The show's December premiere attracted a disappointing 506,000 viewers and ratings dipped to just 300,000 by the end of the series, with Channel 5 insiders putting the slump down to a lack of engaging content.
"The fly-on-the-wall format didn't really work because there wasn't a lot going on," a source told The Mirror. "TOWIE at least has a few different cast members, but watching Amy drive to TV studios and train her dogs was just tedious."
A Channel 5 spokesperson said that the broadcaster is discussing "other opportunities on the channel" with Childs, while the glamour model's team claimed that a major project is being lined up for the summer.
Childs, who has long been linked to dating competition The Bachelorette, recently said that leaving TOWIE was "the best thing [she'd] ever done".
> Amy Childs tipped to earn over £10 million next year