Ryan Seacrest's new show 'Knock Knock Live' canceled after just 2 episodes

Fox has canceled Ryan Seacrest's new show, "Knock Knock Live," after airing just two episodes, an individual with knowledge of the decision told Business Insider.

BI has learned that the ambitious live show will be replaced by a one-hour encore of comedy, "The Last Man on Earth," next Tuesday at 9 p.m. After that, episodes of "Brooklyn Nine-Nine" and "The Last Man on Earth" will air in the 9 to 10 p.m. hour.

The Seacrest-hosted unscripted series was to air live weekly with surprises that enlist friends, families, neighbors, and celebrities to help grant wishes after knocking on the recipient's door.

Despite featuring pop star Justin Bieber on its second episode, "Knock Knock Live" dropped a huge 16.7% in the advertiser-coveted 18 to 49-year-old demographic and 8.6% in total viewers. The show averaged just 1.7 million viewers.

For such an ambitous show, Fox probably pulled the plug so early because they would end up losing money in advertising dollars and production costs.

Seacrest also served as an executive producer on the show produced by Simon Fuller's XIX Enterainment ("American Idol") and Dick Clark Productions ("New Year's Rockin' Eve).

The TV personality will be back on Fox to host the final season of "American Idol" in January 2016.