The Big Day Festival has been a staple of Australia's music scene for more than 20 years, with annual shows in five Australian cities and Auckland, New Zealand. Now, the event's promoter has announced the 2015 event will not be held, but left the door open for its resumption in 2016.

The American-based promoter issued this statement to Faster Louder: “C3 Presents is proud to own Big Day Out, one of the most iconic and established festival brands in the world. While we intend to bring back the festival in future years, we can confirm there will not be a Big Day Out in 2015. We love working on BDO and are excited about the future.”

C3 Presents is based in Austin, Texas and are the third largest concert promoter in the U.S. They produce events including Lollapalooza and the Austin City Limits Music Festival.

According to the Sydney Morning Herald, the 2014 edition of Big Day Out, which featured bands such as Pearl Jam and Deftones, "was something of a disaster this year, with reports of reduced crowds, allegations of unpaid debts to contractors and rumours the event lost between $9 and $12 million."

Over the years a lot of big name bands have played Big Day Out, such as Nirvana, Metallica, Soundgarden, Rage Against the Machine, Korn, Marilyn Manson, Red Hot Chili Peppers, Foo Fighters, Nine Inch Nails, Tool and Rammstein.