The day after the Britain's Got Talent finals, Max Clifford, speaking for Simon Cowell, said that it was "quite possible" that Cowell would be signing some of the finalists, including Smith. Though she did not sign with Syco, Cowell's record label, she did record a duet of "Walking in the Air" with Johnston, which appeared on his debut album, One Voice, and was tipped as a potential Christmas number-one. Before the release of One Voice, it was revealed that Smith and her father, Tony Smith, were finalising the details of her record deal. In November, it was announced that Smith would be performing on stage in Kettering with Sylvia Berryman, a vocal tutor who had worked with Smith prior to her appearance on Britain's Got Talent. Smith said that she was "really looking forward to singing locally again", and it was again reported that Smith hoped to soon sign her own record deal.  In December 2008 the Daily Mail reported that Smith had signed a PS2.3 million, multi-album deal with Universal Music Group that was the "most lucrative recording contract ever handed to a schoolgirl". Smith said "I'm honoured to be joining such a fantastic record company, especially since it's where [Jenkins] started." Dickon Stainer, speaking on behalf of Universal, said "as soon as we saw Faryl, it became an ambition to sign her." Universal claimed it intended to market Smith as a pop star. Smith signed the contract at the Royal Albert Hall, following which she performed with Katherine Jenkins. Neil Fisher, writing for The Times, described Smith as "heir apparent" to Jenkins; the pair had first met when Smith won a competition at the Llangollen International Musical Eisteddfod. By 2009, Jenkins was acting as a mentor to Smith.  In January 2009 plans were released for Smith to perform with Placido Domingo, an idea originally suggested by him. In an interview with the Metro, Smith talked about her future plans, insisting that she did not wish to be dubbed as the next Charlotte Church. She later said that "In the papers, it sounded like I was snobby when I said 'I don't want to be like Charlotte Church', but I didn't mean it like that." She has also spoken of her desire to appear in films on top of her musical career. She said "Films and movies are something I'd really like to do. I've always wanted to act so doing a film would be amazing."

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and was tipped as a potential Christmas number-one.