"As a result, previous work to develop a new tourism brand for Western Australia has required revision because of shifting consumer behaviours."
It is not known how much of the projected AU$2m had already been spent.
The footage was instead repurposed and used as part of two campaigns titled Wander out Yonder and Adventure Awaits.
Tourism WA said this was to ensure "value was extracted from the work carried out to date".
A new "global brand" is expected to be revealed in September to better reflect the "evolving global travel marketplace".
It comes after the tourism agency has recently appointed a new managing director and chair.
Initial production work was reportedly carried out in September 2020, the same month Brodie Carr resigned as Tourism WA managing director.
Opposition leader Mia Davies has urged the McGowan Government to reveal the taxpayer cost of restarting the campaign from scratch.
"The McGowan Government is big on announcements but fails on delivery and transparency," she told The West.
"At a time when many households are struggling to make ends meet, it's pretty ordinary to think millions are being wasted."