Prime Video has officially cancelled 'The Wheel of Time' after three seasons, despite the fantasy series receiving its highest critical ratings yet for its most recent season.

The decision comes more than a month after the Season 3 finale aired on April 17, following what sources describe as lengthy deliberations by the streaming platform. According to reports, the cancellation was primarily driven by financial considerations rather than creative concerns.

Based on the popular book series by Robert Jordan and Brandon Sanderson, 'The Wheel of Time' was a high-budget fantasy drama co-produced by Sony Pictures Television and Amazon MGM Studios. The series starred Rosamund Pike as Moiraine Damodred and was among Prime Video's first major ventures into the fantasy genre, later joined by 'The Lord of the Rings: The Rings of Power'.

While the show initially performed strongly—ranking as Prime Video's most-watched series premiere of 2021 and one of its top five series launches of all time—viewership has reportedly declined over subsequent seasons. Season 3 dropped out of Nielsen's Top 10 Originals chart after just three weeks, whereas previous seasons had maintained their positions throughout their entire runs.

Ironically, the cancellation comes as critics praised Season 3 as the show's best yet, with a 97% rating on Rotten Tomatoes—up from 86% for Season 2 and 81% for Season 1.

Sources indicate that despite the show's global appeal—it ranked #1 on Prime Video in multiple countries with its most recent season—the overall performance was not strong enough to justify its high production costs. The streaming service reportedly explored various scenarios with lead studio Sony TV but ultimately could not make the finances work.

Fortunately for fans, the Season 3 finale was designed with a potential cancellation in mind and offers some closure to the story, though the news will undoubtedly disappoint the show's passionate fanbase.

Prime Video and Sony TV have confirmed they will continue to support the Emmy campaign for 'The Wheel of Time's third season despite the cancellation.