Disney+ has scrapped an iconic superhero series after a lengthy development period. The decision halts the project before production could begin. Executives determined the financial risk outweighed the potential reward for a brand the company does not own.

Why Power Rangers series got canceled at Disney+

The major streaming platform has passed on the live-action Power Rangers series from Jonathan E. Steinberg and Dan Shotz. The show had been in development for about a year and a half, with 20th Television attached as the studio. It will not move beyond the development phase.

Deadline’s sources cite budget concerns as the primary factor. A high-end superhero show demands significant investment in visual effects, costumes, and action sequences. Disney+ faced a tough calculation: spend heavily on a franchise owned by Hasbro, or direct those funds toward properties the company controls outright. The streamer chose the latter.

Hasbro owns the Power Rangers brand and has pushed for a live-action adaptation. Netflix took a swing at the IP several years ago but also backed away. The economics remain difficult when a platform must pay licensing fees on top of production costs. Additionally, the cancellation does not reflect on Steinberg and Shotz. The duo continues to work closely with Disney. They are finishing Season 3 of Percy Jackson and the Olympians, which is releasing on November 20. They also maintain an overall deal with 20th Television.

Moreover, Disney+ has started embracing outside IP recently. The streamer made development deals for Ella Enchanted and the Casper series in recent months. Yet Power Rangers proved too expensive for a licensed property.

After all, the franchise has struggled to regain momentum since the 2017 film. Dacre Montgomery revealed that Lionsgate planned a four-picture arc. The movie got $142 million globally against a $120 million budget. Hasbro purchased the IP from Saban Entertainment in 2018 and has sought a new live-action home ever since.

Originally reported by Devanshi Basu on superHeroHype.com.