BST Hyde Park has been cancelled, with the festival now scheduled to return in 2022.
The event had been set to take place in London in July and has now been cancelled for the second year in a row.
Duran Duran were scheduled to play their first London show in six years at the festival, however organisers said the band would instead perform next year on July 10 alongside Nile Rodgers and Chic.
Pearl Jam’s performances have also been rescheduled for July 8 and 9 next year.
A statement from the organisers said: “Following our review of the most recent Government advice, the latest timeline means that we are unable to deliver with certainty the quality BST Hyde Park is known for in the time available.
“By making this decision at this stage we allow artists, crew, fans and everyone that comes together to help create these shows to plan accordingly.”
All tickets that have been sold will remain valid for the 2022 dates.
The Government hopes to lift all remaining restrictions on social contact by June 21 at the earliest, which would mean larger events including festivals could go ahead.
However other musical festivals including Glastonbury and Download have been cancelled for 2021.
Others including the Isle of Wight Festival and Creamfields are scheduled to take place this summer.