The Lord Mayor's New Year's Day parade, which was inaugurated last year, has been shelved for 2005. But the organisers hope to revive it in 2006.
The inaugural parade attracted 600 musicians in marching bands from the US, Britain and Ireland to Dublin city centre.
The event was organised by Bandfest, a company established by Abbey Tours and Atlantic Group Tours, a US-based specialist in marching bands and musical groups.
However, Ms Marina Flynn of Abbey Tours said this year's parade would not be going ahead as plans were not finalised in time for them to sell and market the event.
One of the main problems was that the headline US band, from the University of Kansas, had cancelled the booking until 2006.
"The University of Kansas were due to come in December/January but the school would not let them come. Because of the Iraqi war they didn't want anyone to travel," she said.
Ms Flynn said they needed at least two overseas bands for the parade to happen.
"It didn't work out in time for this New Year's Day. It's disappointing but it didn't come together quickly enough to sell and market it. We'd rather do it properly than in a half-baked way," she said.
She added the organisers hoped to hold the event on New Year's Day 2006 and needed to look at funding and how it operated.