Iron Fist has been cancelled by Marvel and Netflix. The series is the first of Marvel's properties on the streaming platform to get cut. However, since Disney is getting ready to launch their own streaming service, there's a chance that a third season will happen, just not for Netflix. It appears that cast members of the show were told only a few hours before the announcement was made, which was probably a shock since the rest of Marvel's shows are still at Netflix.

While the Iron Fist cancellation may come as a shock, Marvel and Netflix released a joint statement that heavily hints that the series is not over. Disney first revealed plans for a streaming service in August of 2017, which immediately led to questions about Marvel's properties on Netflix. The service is expected to debut next year, and Iron Fist may be one of the platform's leading shows. Disney and Netflix had this to say about the cancellation.

"Marvel's Iron Fist will not return for a third season on Netflix. Everyone at Marvel Television and Netflix is proud of the series and grateful for all of the hard work from our incredible cast, crew and showrunners. We're thankful to the fans who have watched these two seasons, and for the partnership we've shared on this series. While the series on Netflix has ended, the immortal Iron Fist will live on."

Daredevil Season 3 is preparing to launch next week on Netflix and another season of Jessica Jones was ordered back in April. In addition, it's believed that Luke Cage will be renewed any time now. If Iron Fist is revived for the Disney streaming service, it will join the Loki and the Scarlet Witch shows with Tom Hiddleston and Elizabeth Olsen, respectively. Both actors are expected to reprise their Marvel Cinematic Universe roles.

Iron Fist premiered in March of 2017 to mostly negative reviews from fans and critics, even though it had a strong following. The lack of fighting scenes was one of the major points that fans had problems with, which was remedied for Season 2. The second season was better received, going from a 19 percent Fresh Rating on Rotten Tomatoes to over 50 percent. While it has not been officially confirmed, it appears that Iron Fist will return to help launch the Disney streaming service.

Related: New Iron Fist Season 2 Trailer Gives Danny His Iconic Yellow Mask

Disney previously revealed plans to eventually pull all of their content from Netflix by the time they get their streaming service up and running. Jon Favreau's The Mandalorian is the highly anticipated live-action Star Wars series, which will be the main selling point when the service launches. However, Disney is going to have a lot more to offer down the line once the platform gets off of the ground. Though Iron Fist seems doomed for now, the future looks bright. This news was first reported by Deadline.