It's been announced by promoters MCD that Oxegen will not take place this year, due to a lack of suitable acts to headline. The promoters went on to say that the festival itself may no longer be viable in its current form. This comes as the festival was cancelled in 2012 and was rumoured to have possibly be changing venues entirely.

MCD went on to say that the "financial demands from local agencies" played a factor in the festival's cancellation. Last year saw David Guetta, Pitbull and Calvin Harris take to the Punchestown stage.

Initial thoughts? This comes as no shock to anyone. Oxegen has consistently underperformed and it's been overshadowed by Electric Picnic, Forbidden Fruit, Indiependence and hundreds of other festivals around the country.

It's clear that Oxegen was being aimed towards a certain demographic, but now it seems like they're giving up on it. After all, most of the acts from last year's Oxegen had played in the O2 and other venues that same year so it may have been a bit redundant for them to come back.

Would you be sad to see Oxegen cancelled forever? Let us know in the comments!