Netflix is cancelling its drama series "Marco Polo" after two seasons due to the network's reported $200 million losses after releasing the show worldwide. While the show attracted a good number of viewers in its first installment, season 2 did not perform as well enough to warrant a third season.

The show created by John Fusco followed the life of Marco Polo (Lorenzo Richelmy), the well-known 13th century Italian merchant and world explorer. Benedict Wong starred alongside Richelmy as the historic icon Kublai Khan. Other members of the cast include actress Joan Chen (The Last Emperor), Tom Wu (Scorpion King 2), Ng Chin Han (The Dark Knight), and Zhu Zhu (The Man with the Iron Fists).

The first season of the show premiered in 2014 and the second installment followed early this year. "Marco Polo" joins a list of Netflix dramas that have been canceled that include "Lillyhammer," "Bloodline," and "Hemlock Grove," according to sources.

"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, including John Fusco, Dan Minahan, Patrick Macmanus, and their crew, who poured their hearts into the series; and of course Harvey, David and our friends at TWC, who were great collaborators from start to finish," Cindy Holland, Netflix VP of Original Content, said in a statement.

In another statement, Harvey Weinstein — Co-Chairman of The Weinstein Company — expressed his gratitude saying, "Netflix has been incredible to give us the room to make a series with a cast true to every principle of diversity. It's a bold network that allows you to do that and support us in the way that Netflix did."

He also added, "As many people know, Asian history and the world of martial arts have fascinated me for all of my career –— I've made many movies around these topics and this genre, and now this TV show I'm so proud of. John has been a great partner and we're both fascinated to continue exploring this exciting period in history on future projects together."

While followers of the show will no longer get to see developments in the story, they can still re-watch season 1 and season 2 on Netflix whenever they want by simply registering on the online streaming network.