It’s a huge shame the latest screen version of Captain Nemo has been cancelled.

Filming had been completed on Nautilus when the axe fell on the production as part of a cost cutting measure by returning Disney boss, CEO Bob Iger, who plans to trim $US3bn from its non-sports programming.

Shazad Latif stars as an Indian prince and prisoner of the East India Company who, styling himself Captain Nemo, sets off on a mission of revenge on his remarkable submarine, the Nautilus.

The cast also includes Georgia Flood, Pacharo Mzembe, Benedict Hardie and Thierry Fremont.

After a series of pushbacks on the launch date, speculation had been mounting that Nautilus might be shelved.

According to American trade website Deadline, Nautilus was dropped as part of cost-cutting at the Hollywood studio, and cancelling a series or movie, or removing it from streaming, decreases the company’s tax burden.

There’s hope within the industry that the series will be completed and sold to another company for completion and broadcast.

After all, with the streaming wars continuing to heat up, there’s still a massive need for content and this could be a way for a rival to obtain some top drawer glossy entertainment on the cheap.