Here's Why Netflix Cancelled Marvel's Daredevil After Three Successful Seasons

In a surprising turn of events, Netflix has reportedly cancelled the upcoming seasons of Marvel's much-loved series Daredevil.

In a statement to Deadline, the streaming giant confirmed that Daredevil will not return with their fourth season on Netflix. "We are tremendously proud of the show's last and final season and although it's painful for the fans, we feel it best to close this chapter on a high note. We're thankful to our partners at Marvel, showrunner Erik Oleson, the show's writers, stellar crew and incredible cast including Charlie Cox as Daredevil himself, and we're grateful to the fans who have supported the show over the years," the statement read.

The previous three seasons of the series have been tremendously popular among the audience and it's heartbreaking to learn about the cancellation of the project. Talking about the previous seasons and the fate of Daredevil as a character, the publication reported that although the series has come to an end on the platform, the existing seasons will be retained and the character will live on in future projects for Marvel.

The report asserts that increasing cost and New York's tax credits can be one of the factors that led the series to go off air from the platform.

Daredevil is not the first Marvel show to be cancelled by Netflix, previously shows like Iron Fist and Luke Cage were also called off. It is speculated that Iron Fist and Luke Cage may find space on the new streaming platform, Disney+.

Currently, Jessica Jones and The Punisher are the only two Marvel series on Netflix. Having said so, an official confirmation on the dates of their return is still awaited.