For nearly three decades, Denver's Underground Music Showcase has presented thousands of performances by local artists from Colorado and surrounding states. The festival, which began in backyards and a dive bar basement, grew into a cornerstone of the state's independent music scene.

But this weekend's event will be the last, at least for now.

Organizers Youth on Record and Two Parts say rising costs and declining ticket sales have made it unsustainable to continue.

The showcase has launched numerous music careers, including that of Nathaniel Rateliff, and has long provided a platform for young artists to begin their journey in the music industry.

"I imagine there will be a lot of tears; tears of joy, tears of sadness, tears of nostalgia," said Jami Duffy, Executive Director of Youth On Record. "That's what community is, and that's what UMS has done for Colorado."

"It's the best weekend in Colorado, according to our fans," said Duffy.

Over three days and across three stages, more than 200 bands are performing along South Broadway. The event kicked off Friday night with Nashville-based headliner All Them Witches, returning for the first time in four years.

"Without UMS, I could arguably say that Colorado would not have the music scene that it has," Duffy said.

But after the last notes play Sunday night, the festival and its legacy will pause indefinitely.

To continue operating safely and effectively, organizers say they would need at least $2 million. That number hasn't been reached despite ticket sales and sponsorships.

"People are out here. They're buying tickets. Sponsors are coming through," Duffy said. "But to throw a festival safely and on mission, you need government and philanthropic support, and it just hasn't risen to the level that we can sustain."

UMS isn't alone. Across the U.S., at least 40 music festivals have been canceled this year, citing similar challenges, from decreased attendance to shifting politics.

Still, organizers remain hopeful.

"Tens of thousands of people have come through the festival. They started their careers in music here. They found love here. They found friendship. This festival has given them life," Duffy said. "I know Coloradans don't want to lose our independent music industry."