SAN FRANCISCO -- The San Francisco Blues Festival has fallen victim to the failing economy with organizers announcing the cancellation of this year's event.

The festival was a fixture at Fort Mason for the past 36 years and was the nation's oldest continuously run blues festival. Over the years, it's featured jazz and blues legends as well as emerging artists.

Organizer Tom Mazzolini said the first one was held in 1973.

"The first festival was quite magical because I didn't know how to produce a festival," Mazzolini said.

He also said he knew it had to end one day.

"I always knew I couldn't go on forever but little did I know it would come down to economics," he said.

In 2000, the three-day festival attracted 20,000 music fans. After September 11th, the festival faltered and most major sponsors withdrew. Last year, there were only 6,000 spectators.

Steve Suen is the owner of a blues club in the city and said he knew the festival had been struggling.

"We sponsored it for the last two years and did all the food and catering," said Suen.

He added that he's hopeful it may return one day.

Tom Mazzolini said he asked the city of San Francisco as well as private companies for assistance or sponsorship, but in this economic climate, it was difficult to get help.