July 18 (UPI) -- Netflix has canceled Spike Lee's series She's Gotta Have It after two seasons.
Deadline confirmed Wednesday the streaming service has opted to not renew the comedy-drama show for a third season.
"Spike Lee is one of the greatest filmmakers of all time and we're thrilled he brought the series She's Gotta Have It (1986, based on his first feature film) to Netflix," Netflix chief content officer Ted Sarandos said.
"While this is our last season, we're very proud that it will be on our service for years to come, and excited to be working with Spike on his upcoming Netflix film Da 5 Bloods," he added.
She's Gotta Have It is based on Lee's 1986 film of the same name and stars DeWanda Wise, Anthony Ramos, Lyriq Bent and Cleo Anthony. Lee is expected to shop the series at other networks.
Entertainment Weekly said the cancellation follows news Netflix had a loss in U.S. subscribers in its second quarter, the first time in eight years. The company attributed the loss to price increases and a weak content slate.
Wise, who plays Nola Darling, addressed She's Gotta Have It's cancellation in an Instagram Stories post Wednesday.
"She's Gotta Have It 2.0 has come to a restful close. It will live on and on thru #Netflix and I'm so thankful for all Nola Darling gifted me with. Thankful to Spike and Tonya," she wrote, referencing Lee and his wife, Tonya Lewis Lee, an executive producer on the show. "Thankful for my exceptional playmates. And so very very very thankful for each and every one of you."
Lee's movie Da 5 Bloods will mark his fourth collaboration with Netflix. The film follows four African-American Vietnam War veterans who return to Vietnam seeking the remains of their late squad leader and buried treasure.