Organisers of the Isle of Man Festival, which was due to be held in association with MTV, have cancelled the event.
A statement released today says the event cannot move forward due to the lack of ticket sales.
It says pursuing the festival – due to take place in Noble’s Park on July 6th - would put businesses on and off the Island in jeopardy.
Organisers have thanked those who committed their support for the event.
Anyone who had a ticket for the festival has been told to contact the place they bought it in order to obtain a refund.