Disney has surprisingly decided not to proceed with the distribution of its adaptation of The Spiderwick Chronicles, the live action series based on the popular children’s fantasy books of the same name, according to a report by Deadline. The outlet reports that the six-episode series, from Paramount Television Studios and 20th Television, has been completed, and is currently being shopped around by Paramount in the hunt for another buyer who would be keen to stream the series.
The decision comes hot on the heels of recent news from Disney that they, along with other media companies in Hollywood, are reevaluating their current strategies regarding their streaming output amid a cost-cutting process designed to maximise the sustainability of the business. Disney announced a major content write-off in May, and it is believed The Spiderwick Chronicles is one of the victims to suffer at the hands of the almighty dollar.
“We are in the process of reviewing the content on our DTC services to align with the strategic changes in our approach to content curation,” Disney CFO Christine McCarthy 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 $1.8 billion.”
Soon after that announcement, a whole host of original series and specials were culled from both Disney+ and its other streaming platform, Hulu. Following that, in July, Disney‘s CEO Bob Iger claimed the company would be reducing the number of Star Wars and Marvel projects going forward, with a focus on quality over quantity, while earlier this year, the company announced plans to cut $3 billion in non-sports content spending.
The announced synopsis for the series suggested it would not differ much from the books upon which the series was being adapted, written by Tony DiTerlizzi and Holly Black, and was set to follow the main plot of the novel series. The series revolves around the Grace family, comprised of twin brothers, Jared and Simon, along with their sister Mallory and their mother, Helen. They make the life-altering decision to move from their former residence in New York to their ancestral home in Michigan. Upon their arrival, they are astounded to uncover a hidden world teeming with fantastical beings, ranging from fairies and ogres to trolls, boggarts, and a multitude of other enchanting creatures, all living in their midst.
The cast includes Shazam star Jack Dylan Grazer alongside Lyon Daniels, Noah Cottrell, Mychala Lee, Joy Bryant, and Christian Slater.
via Collider