She may have lost 'American Idol,' but Jessica Sanchez gained a record deal.

The 16-year-old powerhouse scored a contract at Jimmy Iovine's Interscope Records, a gig that was all but guaranteed based on his admiration of her on the show. The Hollywood Reporter notes that the singer's debut will have a more urban feel than the occasionally syrup-sweet ballads she often sang on 'Idol.'

That urban vibe is keeping in line with Sanchez's dream collaboration: she wants to work with Eminem! “This is going to seem odd, but I love Eminem, because he has so much conviction and emotion in the way he raps,” Sanchez said. “Every word that he raps, you feel it. And I think our talents would mesh. So, hopefully, it could happen, and I would just die if he’d collaborate with me!”

It's unclear how much cash the budding starlet will make from the deal, however. Sanchez faces a much smaller payout than previous 'Idol' finalists. If she records four songs, she’ll take home a mere $30,000, but if she records a four to 10-song EP, she can snag roughly twice that amount. For what's expected to be her full album, she’ll then be entitled to $175,000.

To line her pockets a little more, she may actually be back on TV -- this time on 'Glee.' Though her exact role has yet to be determined or announced, if and when she takes the gig, it will be only after she's done with the 'Idols Live' tour. Congrats, Jessica!

Watch Jessica Sanchez Perform 'I Have Nothing' on 'American Idol'