The organisers of 3Music Awards, 3Media Networks, has announced that the 2023 edition of the awards will no longer come off as scheduled.

In a press release on Wednesday, the media company revealed that the event has been moved to 2024 in hopes to secure adequate financial support and sponsorship.

They noted that adequate support will help to host an event with an "unmatched standard of excellence" that has defined the 3Music Awards over the years.

"The 3Music Awards has garnered immense recognition as a premier celebration of musical talent, captivating audiences and enthusiasts alike. As a testament to our unwavering commitment to excellence, we believe that rescheduling the event to 2024 will ensure that the 3Music Awards remains an unrivalled experience within the industry," parts of the statement read.

The award organisers noted that they are working hard to bring viewers the highest standard of production on their return next year.

They expressed their gratitude to fans for their understanding, patience, and continued support.

"Together, we will overcome this temporary setback and emerge stronger, delivering an extraordinary 3Music Awards experience that celebrates the very best of our industry," they added.

Meanwhile, the CEO of 3Media Networks, Rashida Yasmine Abdualia stated that the company remains dedicated to delivering an unforgettable event in 2024.

"While we acknowledge the disappointment this may bring, we want to assure all our stakeholders - industry partners, sponsors, artists, and fans - that we are actively working behind the scenes to secure the necessary support," she stated.

"Together, we will overcome this temporary setback and emerge stronger, delivering an extraordinary 3Music Awards experience that celebrates the very best of our industry.

Read the full statement below: