Tonight marks the last episode of Ringer’s first season — and likely of the TV series as well. Despite being The CW’s most anticipated new TV show of 2011-12, the series hasn’t been able to hold onto its audience.

Ringer revolves around a former exotic dancer named Bridget (Sarah Michelle Gellar) who, after being the sole witness to a professional hit, reunites with her wealthy estranged twin, Siobhan. When Siobhan disappears, Bridget assumes her identity and discovers that her sister’s complicated life rivals her own. The show also features the talents of Nestor Carbonell, Mike Colter, Ioan Gruffudd, Zoey Deutch, Tara Summers, and Kristoffer Polaha).

The series debuted to strong numbers (by CW standards anyway) with a 1.2 rating in the 18-49 demographic and 2.84 million total viewers. That was pretty close to being on par with the smallest network’s most popular show, The Vampire Diaries.

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Unfortunately, the second episode of Ringer lost 25% in the demo and by the fourth installment, the series lost another 33%. Not good. It didn’t help that the network put the struggling series on hiatus for two months.

The ratings have fluctuated somewhat over the course of the season but have been trending downward overall. The most recent episodes of Ringer have been bringing in a 0.4 demo rating and just over a million total viewers. Even by The CW’s standards, those are very bad numbers.

While The CW gets revenue from other areas besides broadcast advertising — big deals from Netflix and Hulu, for example — the network still has to make choices about what to cancel and what to renew. If viewership of Ringer had been on the rise, it would have a chance at being renewed. As it stands now, it looks certain that tonight’s episode will be the last one.

But what do you think? Is it time for Ringer to be cancelled or should there be a second season?

Image courtesy The CW.