Houston, We Have A Problem. 2011 really will be remembered as the year that the once almighty Australian festival scene fell on their own sword sparking a number of humiliating cancellations that even the most seasoned of promoters have failed to navigate effectively.

Today another festival is added to 2011’s list of scalps with organisers of the Mission To Launch festival failing to launch in Canberra issuing a statement that cancelled the festival blaming our old friend ticket sales. Or in this case, lack thereof.

“The decision has been a very difficult one for organisers who, as Canberra locals themselves, envisaged bringing a world-class party to the nation’s capital for New Year’s Eve,” said the promoters. “Unfortunately, the current economic climate has seen music festivals across the country suffer with drops in numbers of attendees and poor ticket sales on a large scale. Mission To Launch has unfortunately suffered the same fate.”

“The festival was a bold and unique business venture designed for Canberra – an idea initiated by local businessmen and activated 18 months ago when the event market was more resilient. Ticket holders are entitled to a full refund from the point of purchase. Contact your ticketing agency for more details.”

The festival was touted as Canberra’s premier New Years Eve event and featured a diverse lineup including The Living End, Sneaky Sound System, The Beautiful Girls and Cloud Control.

The news comes after another Canberra festival, Stonefest, was downgraded in October from their full lineup with all the bands removed from the lineup in favour of a smaller festival consisting mainly of hip hop artists and DJs.

But the problems with festivals this year were in no way limited to Canberra, Rewind 80s Festival also failed to take off, Soundwave Revolution completely collapsed, the Great Southern Blues festival cut their losses, and Funk & Tunes Festival bit the dust.

Good Vibrations saw the writing on the wall early on and chose to bow out of the market for a while, but Big Day Out decided to take the gamble which didn’t pay off the way they may have hoped with events in Auckland, Adelaide, and Perth all being downgraded shortly after tickets went on sale.

Ticket holders can receive a refund for Mission To Launch from their point of purchase. Don’t forget to check out our slideshow of the biggest Australian festival fails ever.