The Big Day Out Festival, Australia’s massive music and arts festival, will not be returning in 2015 as organizers attempt to refresh the festival’s format, according to reports in Billboard. Organizers have promised that the fest will return after its one-year hiatus.

For years, Big Day Out was Australia’s equivalent of the old Lollapalooza, a touring celebration of alternative music and art. At its peak, the fest attracted over 300,000 attendees in nine cities. However, attendance has dropped off in recent years, and issues with cancellations have left Big Day Out in a financial bind: the 2014 tour has reported losses of 15 million Australian dollars.

Big Day Out’s dilemma mirrors that of the old Lollapalooza in many ways. In its last few years as a touring festival, Lollapalooza became known for bloated lineups and low attendances. The fest has since rebounded successfully as a stand-alone event in Chicago, and it’s possible that the Big Day Out organizers (who, it should be noted, also put Lollapalooza together) could consider doing something similar for their event.