The Victoria's Secret Fashion with its skimpy lingerie, famous supermodels, and performances from the hottest pop stars has been a holiday staple for many years.
In the past, the fashion show has been both a ratings and marketing powerhouse BUT it has struggled in recent years.
The viewership has plummetted tremendously from an audience of 9.7 million in 2013 to only 3.3 million last year.
Back in May, it was announced that the show would not air on network television, but now the event will be canceled entirely.
The company has not said yet if the event is just canceled for the year or indefinitely. More updates to follow.