Amazon executives explained their decision to pass on picking up "Hannibal," starring Hugh Dancy (pictured), for a fourth season at the Television Critics Association Summer Press Tour. NBC

Since NBC announced that it would not be renewing "Hannibal" for a fourth season, fans have been desperately hoping another distributor would continue the canceled series, but for Amazon, at least, the reason for passing was simple -- not enough people are watching. Executives from Amazon TV explained their decision Monday at the Television Critics Association Summer Press Tour.

Amazon Studios chief Roy Price told reporters that he and Amazon were not interested in investing in a show that they do not believe has the potential to be a signature hit.

“We’re not in the programming business. In an on-demand world, that show doesn’t demand [renewal]," said Price, according to Variety. “That show that would get you from 8:30 to 9 — a goodish show. That has no value to us if it’s not going to be [someone’s] favorite show.”

Amazon TV comedy head Joe Lewis added, "None of us are up here trying to make anyone’s third-favorite show.”

Amazon had previously seemed the logical destination for a continuation of the cult favorite series. However, "Hannibal" creator Bryan Fuller alerted fans that the web distributor had passed on the show last month.

The reason Fuller gave for Amazon's reluctance was a bit more complicated than the one Price put forward Monday.

“Amazon would liked to have done it, but they wanted to do it very quickly and I wanted to be able to get all the scripts in advance before we starting shooting," Fuller told Variety. "The schedule with their desire to put it on immediately was just impossible for us.”

Plus, Fuller's commitment to his upcoming Starz series, "American Gods," makes another season of "Hannibal" even less attractive to potential distributors.

“The question would be for the potential new distribution partner is how comfortable they are in waiting,” Fuller told Deadline Hollywood. “Because I do have an obligation to 'American Gods' and a passion for 'American Gods,' so I absolutely want to service that in the way that it needs to be serviced.”

Whatever the reason, the result is the same -- Amazon is a definite no.

Will anyone saved "Hannibal?" Only time will tell, but things are not looking good for the show's legion of loyal "fannibals." In the meantime, "Hannibal" Season 3 will continue airing on NBC Saturdays at 10 p.m. EDT.

Watch a clip from "Hannibal" Season 3, episode 9 below: