It looks like this year's Exploits Valley Salmon Festival will be the last one to get money from the Town of Grand Falls-Windsor.

""The world has changed, the environment has changed, the market has changed — and we have to respond to that," said Coun. Darren Finn, chair of the 2015 festival.

According to the Finn, low ticket sales for the 2015 concert resulted in a $667,000 loss. That's on top of a $476,899 loss in 2014.

Grand Falls-Windsor Mayor Al Hawkins said after the loss last year, the town took a chance, hoping the 2015 festival would bounce back.

"We had two very successful ones and now of course the last two have been devastating," he said.

"That's not the type of risk that you want to take for a third year in a row."

Hawkins said the town itself is on the hook for that money, and council can't take that risk with taxpayers' money again in 2016.

'We suffered the most'

Hawkins said while the "solid" lineup this year with John Fogerty headlining was good, and the concert and performers were outstanding, Salmon Festival just couldn't compete.

The package will be back to our roots, before we got to the big bands, which also have big ticket prices. - Coun. Darren Finn

"There are only so many people in Newfoundland and Labrador that are concertgoers," said Hawkins.

"When you put off two or three major concerts in the summer then obviously … everybody's going to suffer, but we obviously suffered the most this year.

"Any time you make money everybody's happy, when you lose money they're not and that's just the name of the game."

The first ever Confederation Hill Music Festival in St. John's fell on the same day as the Salmon Festival concert this past summer, which likely hurt ticket sales for the Grand-Falls-Windsor event. (Facebook)

Hawkins was referring to competition on the Avalon Peninsula the same weekend from the Confederation Hill Music Festival.

In July, Finn told CBC News before the final numbers were in that the 31st annual festival was a success, and there would be a 32nd show in 2016.

Roughly 6,200 people attended the 2015 festival. In 2014, the attendance was 8,500 — which was considered a small crowd.

The Salmon Festival has been an annual concert in central Newfoundland for more than three decades.

Festival will go 'back to our roots'

Finn said while the John Fogerty concert this past summer was a success from the point of view of the audience, the loss of the bottom line simply isn't something the town of Grand Falls-Windsor can risk happening again.

"We need to change because the risk is not worth it, but we will certainly still have a salmon festival," Finn said Thursday.

"The concert will turn back to 2010 where we left off, attracting good Newfoundland and Atlantic entertainment, possibly other entertainment from Canada," he said.

"The package will be back to our roots, before we got to the big bands, which also have big ticket prices."

In 30 years, Salmon festival in Grand Falls-Windsor went from a small local festival to hosting hugely popular acts such as Kiss, Aerosmith and the Eagles. This aerial photo shows the crowd during the 2013 Eagles performance.

Finn said a performer like John Fogerty can cost well over $1 million to bring in, which poses a considerable risk for the town if the turnout is low.

With other festivals springing up closer to the Avalon Peninsula, where most people in the province live, Finn said Salmon Festival organizers have to be realistic about the level of entertainment they want to pay to come to central Newfoundland.

"Obviously [Confederation Hill] had an impact, you could see it on our field and the amount of people on the field," he said.

'But the Salmon Festival is a point of pride for our community, it's a celebration of our community. So we will continue with festivals and celebrations, and we have a track record of 30 years of festivals — so we have to be proud of that."