Well, it all happened so fast. We are only a few days into the new year, and already the first big cancelled show of 2022 has been announced.

Deadline reports that there will be no second season of the teen horror series I Know What You Did Last Summer. The show was cancelled after only one episode consisting of eight episodes was recorded. Given that the first season was rated quite low (40% on Rotten Tomatoes), the show's cancellation is not a big surprise.

The show was based on Lois Duncan's 1973 novel of the same name, but audiences may be more familiar with it from the successful 1997 film starring Jennifer Love Hewitt, Sarah Michelle Gellar, and Freddie Prinze Jr. Unfortunately, there is no sequel to the TV reboot.

Like the original novel and the 1990s film, the show follows a group of teenagers who cover up a fatal accident and are subsequently haunted by a mysterious figure who seems to know of their past misdeeds. The film was written by Sarah Goodman and stars Madison Isman, Bryanne Tju, Ezekiel Goodman, and Bill Heck.

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While the news of the cancellation will no doubt be a disappointment to avid viewers of the series, at least the show did not end with an unresolved cliffhanger. The first season tied up all the remaining loose ends and served as an effective series conclusion. Goodman had previously said that he would like to write a second season in the future.

"I Know What You Did Last Summer" had just premiered on Amazon Prime Video last October. Such rapid cancellation would suggest that the show had trouble finding an audience out of the gate. It has also triggered unflattering comparisons between Prime Video and Netflix. The world's largest streaming service is notorious for mercilessly canceling original programming and regularly takes the axe if a series does not achieve near-instant success.

"I Know What You Did Last Summer" may be the first of these, but it won't be the last major show cancellation of 2022. With competition for viewers' attention fiercer than ever, more series will not air in 2023. At least Amazon Prime Video subscribers can take comfort in the news that "The Boys" Season 3 premiere date has been set for June.

In other entertainment news, a digital release date for "Spider-Man: No Way Home" may be leaked. Also, Chip and Joanna Gaines' network has removed the show amid allegations of corner-cutting. Also, an episode of Impractical Jokers was removed from HBO Max following the cast's departure.