American Idol seventh-season runner-up David Archuleta has signed a recording contract with 19 Recordings/Jive Records, with his debut album currently scheduled to drop later this year.

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"Signing a record contract with 19 Recordings/Jive Records is truly a dream come true," said Archuleta. "Being a fan of American Idol since Season 1 and admiring the alumni, I am honored and humbled to be a part of that group. I'm really excited to start working on everything."

Archuleta's recording contract announcement comes two weeks after he finished second to Idol seventh-season champ David Cook, who defeated the 17-year-old Murray, UT native by roughly 12 million home viewer votes.

Cook signed a recording contract with 19 Recordings/RCA Records last week and is working on his own debut album, which is also currently scheduled to drop this fall.

Archuleta represents only the second Idol winner or runner-up to sign his or her initial recording contract with Jive, following in the footsteps of Idol sixth-season winner Jordin Sparks. Jive is part of the Zomba Label Group, a division of Sony BMG.

"David Archuleta has already shown the world that he is a star," said Jive/Zomba Label Group executive Tom Carrabba.  "He's a young, talented singer with wide appeal and we're thrilled to have him join our roster."

Last week Archuleta landed three songs on both Billboard's Hot 100 and Hot Digital Songs single sales charts after moving 71,000 downloads.

"Imagine" came in at No. 36 on the Hot 100 and at No. 16 on the Hot Digital Downloads; while "Don't Let the Sun Go Down on Me" at No. 58 and "In This Moment" at No. 60 on the Hot 100.

"It was fascinating to watch David's journey through Idol," said Idol creator Simon Fuller.

"He is a genuine pop star, and is a gifted singer who instantly won over a huge audience when he first appeared on the show.  Since then, he has dealt with the pressure and the high level of expectation with real fortitude; he's given us some of the best performances of the season. Without question David Archuleta has a great future ahead of him."