Scottish promoter DF Concerts has announced that boutique festival Hydro Connect will take a break in 2009, in the face of growing economic pressure from the global credit crunch.

In a statement released by the Glasgow-based promoter, "very high infrastructure and servicing costs" were highlighted as leading factors in the decision.

"The combination of extremely high costs incurred in order to stage the festival -- and the fact that Connect's audience is arguably affected more by the credit crunch than some other festival markets -- means that it would be foolish for us to expect the growth necessary to help Connect thrive in 2009," said DF Concerts CEO, Geoff Ellis.

"Although our initial business plan was based on the event making a loss in its initial stages, we would have anticipated a growth in attendees by year three. However, based on the current financial climate, we know this will not be achievable."

DF also hinted at a change in format for the 2010 instalment of the festival.

The event has taken place for the last two years in the grounds of Scotland's Inveraray Castle and has featured acts such as Bjork, the Jesus And Mary Chain, Beastie Boys, Franz Ferdinand, Bloc Party and LCD Soundsystem.

In its place, DF will be staging a series of "intimate, innovative events" under the 'Connect' banner.