After a decade of holding the annual festival, Apple is discontinuing the Apple Music Festival which was traditionally held in London.

The company has not made clear the reasons for axing the show this year, but according to Music Business Worldwide, Apple is concentrating its resources on single events instead of the lengthier Apple Music Festival.

Apple will remain active in the live events scene, as evidenced by its partnership with Skepta and Haim in their London shows, and with Arcade Fire in Brooklyn. During South by Southwest (SXSW) in Texas a few months ago, Apple also collaborated with Lana Del Rey, Vince Staples, and DJ Khaled in their live events.

The festival was first held in 2007 and ran for a month, with concerts every night. Apple also gave away free tickets to competition winners. In 2015, the month-long festivities where shortened to a 10-night series of events at the Roundhouse in Camden, London.

Over the decade, it has featured some of the biggest names in music industry, including Adele, Coldplay, Paul Simon, Ed Sheeran, Mumford & Sons, Lady Gaga, Kendrick Lamar, Pharrell Williams, Beck, and One Direction.

Last year, the line-up featured Elton John, Alicia Keys, The 1975, and Chance the Rapper.

Apple is also most likely focusing on creating its own content, along with hosting music content, television shows, and film for people to stream. Recently, company launched the TV series "Carpool Karaoke" and "Planet of the Apps." It also hired former Sony television executives Jamie Erlicht and Zack Van Amburg to aid in the creation and development new original shows.

The technology giant is also preparing for its big product showcase event which will be held on Sept. 12 at the brand new Steve Jobs Theater located in its new campus in Cupertino, California. During the event, the company will be unveiling its brand new iPhone.