'Marco Polo' news: Series canceled by Netflix due to low ratings and multi-million dollar loss

After airing for just two seasons, Netflix finally announced the cancellation of its original historical drama "Marco Polo."

The streaming giant hasn't had many misfires among its original shows, but "Marco Polo" appears to be one of its first. According to reports, the program lost more than $200 million since it first aired. The low viewership and underwhelming reviews, along with the financial losses "Marco Polo" incurred, reportedly pushed the streaming giant and co-producer The Weinstein Company to end the project.

Created by John Fusco, "Marco Polo" was launched in 2014 as the first Netflix original drama developed in the US for the global market. The story follows the famous 13th-century merchant and explorer Marco Polo (played by Lorenzo Richelmy) when he was still in the court of Kublai Khan. The show's stellar cast lineup also included Michelle Yeoh (the Handmaiden), Benedict Wong (Kublai Khan), Joan Chen (Empress Chabi), Zhu Zhu (Kokachin), Tom Wu (Hundred Eyes), Olivia Cheng (Mei Lin), Claudia Kim (Khutulun), Rick Yune (Kaidu), Remy Hii (Prince Jingim), Mahesh Jadu (Ahmad), and Uli Latukefu (Byamba), among others.

Given its setting, scope, and storyline, the series required a huge budget. Its freshman run attracted a sizable amount of viewership that earned an early renewal. The second season released in July, however, didn't perform that well in terms of ratings.

The show may be over, but Fusco revealed in a press statement that he is currently working on another project with Weinstein Co. co-chairman Harvey Weinstein. "Harvey and I have a love for this kind of history — we had a fantastic cast, fantastic creative team and crew, and shooting in Malaysia was a privilege," he said. "We're working on an idea right now in a similar space that we're very excited about," he added.

Originally developed for Starz, "Marco Polo" isn't the first program to be canceled by Netflix. It joins a handful of original shows that was recently dropped by the network including "Bloodline," "Hemlock Grove," and "Lillyhammer."