A series adaptation of The Spiderwick Chronicles will no longer go ahead at Disney+.
The streaming service was set to release an eight-episode run based on the children’s fantasy books of the same name.
However, it has been announced that the Paramount Television Studios and 20th Television-produced television show will not be made available on the platform as planned, despite filming being complete.
This is said to be due to Disney+ prioritising internally produced content as a cost-saving measure, a report from Deadline states.
In May, Disney announced its plans to remove a significant portion of content from the streamer.
“We are in the process of reviewing the content on our DTC [direct to consumer] services to align with the strategic changes in our approach to content curation,” Disney CFO Christine McCarthy said at the time.
“As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8bn.”
Shows that were removed from the platform in the months that followed included Dollface and Big Shot.
The Spiderwick Chronicles follows the Grace siblings as they discover a world of fairies after moving into the Spiderwick estate.
The series was initially announced in November 2021 as part of Disney+ Day and completed filming earlier this year. Christian Slater plays the show’s villain, Mulgarath, alongside Jack Dylan Grazer, Lyon Daniels, Noah Cottrell, Joy Bryant and Mychala Lee.
The 2008 film adaptation starred Freddie Highmore, Mary-Louise Parker and Sarah Bolger, with Nick Nolte, Seth Rogen, and Martin Short in voice roles.
According to Deadline, Paramount is currently exploring options to sell the show to other platforms.
Last week, Disney+ also cancelled Hawaii-based teen doctor comedy Doogie Kamealoha, M.D. after two seasons.
Earlier this month, the platform announced that its subscription prices will rise by as much as 27 per cent, with the company saying that it is facing a challenging market.
Disney CEO Bob Iger also noted that the streamer would be cracking down on password-sharing from next year in an attempt to force different households to have their own accounts.