Netflix has decided to cancel its own series ‘Marco Polo’ after only two seasons, it has been reported.

The American streaming giant has opted to axe the scripted drama, bestowing ‘Marco Polo’ with the unfortunate tag of being the first Netflix original scripted series to not be renewed for a third season, according to The Hollywood Reporter on Monday (December 12th).

Made in tandem with The Weinstein Co. and starring Lorenzo Richelmy as the 13th century Venetian merchant who travels to China, with Benedict Wong as Kublai Khan, ‘Marco Polo’ was unveiled in the winter of 2014 to largely negative reviews.

Lorenzo Richelmy'Marco Polo' stars Lorenzo Richelmy and Zhu Zhu at the show's premiere

Its second series was released to virtually no publicity or fanfare in the summer of 2016, having tentatively been given a stay of execution last December with options concerning the cast set to expire by the end of December this year.

However, it is believed that both Netflix and The Weinstein Co. agreed to scrap a third season of ‘Marco Polo’, with rumoured losses of $200 million accruing to Netflix over the course of its two ill-fated runs.

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“We want to thank and are grateful to our partners on Marco Polo from the actors, whose performances were enthralling and top-notch; to the committed producers… and their crew, who poured their hearts into the series; and of course… our friends at The Weinstein Co., who were great collaborators from start to finish,” said Netflix’s vice-president of original content Cindy Holland in a statement the same day.

Showrunner John Fusco gave a disappointed statement to the media, but hinted that a similarly-based series was in the works for sometime in the future.

“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. We're working on an idea right now in a similar space that we're very excited about.”

Other series that are currently believed to be at risk of the axe at Netflix, which lately has poured lots of resources into original content, include Baz Luhrmann’s ‘The Get Down’, comedy-drama show ‘Easy’ and sci-fi drama ‘Between’.

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