Lakeside 2021 has been postponed.
The annual event that attracts thousands to Rotorua's Lakefront had been scheduled to be held next March. Now, it is not known when it will return.
The iconic free family-focused outdoor concert would have celebrated its 25th birthday next year.
On the Lakeside Concert Rotorua Facebook page, Rotorua Lakeside Concert Charitable Trustees said they believed that given the impact on the community from Covid-19, it would have been inappropriate to start seeking the financial and commercial support necessary to make the event viable.
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"The trust wanted to send an early signal to potential funders and the public that Lakeside 2021 would wait until better financial times to stage our milestone 25th concert."
The event has consistently scored the highest level of approval by local people over any other event, the post said.
"While it is true that people want to be entertained during difficult times, Lakeside will wait a little longer to celebrate our 25 years of success. It will happen however, and it will be fantastic."
Chairman Ian Edward said it took at least 10 months to plan and organiser Lakeside.
He said this was not the time "to approach our generously loyal sponsors from around the country, when they will all be under severe financial pressure".
The annual Lakeside concerts have long been a Rotorua calendar highlight.