Rob Thomas, who also wrote and directed for the show several times, said they are 'disappointed' but their mission is 'accomplished'.
The second season's number did not succeed in spawning a renewal for "Party Down". Starz has pulled the plug on the comedy about a group of struggling dreamers, saying after a "careful consideration", they decided not to continue with the subsequent season.
The network has also given "Gravity" the same fate. "We're grateful to everyone involved in the shows, and are proud to have had them on the channel. Starz remains committed to aggressively expanding our original programming lineup," executive vice president of programming, Stephan Shelanski said in the statement.
"Party Down", although forming a fan base and is subject to critical praise, was not able to deliver good ratings necessary to keep it going. It was worsened when stars Adam Scott and Jane Lynch left the show for "Parks and Recreation" and "Glee" respectively.
In response to the cancellation, showrunner Rob Thomas told E!, "I'm not sure that any of us are terribly surprised today, but we're all really disappointed. One of the things we loved about doing the show is that we felt like we got to write to an audience of our circle of friends. I think that's exactly who ended up watching it. So, in that respect, mission accomplished!"
Thomas has moved on from the show and is currently writing "a drama pilot set in the world of corporate espionage for Showtime."