Victoria's Secret Fashion Show: Supermodels and rockstars can't keep up ratings

It’s the rumored end to an era of Swarovski-encrusted, lingerie-clad models walking the runway on network TV.

Shanina Shaik broke the news to The Daily Telegraph Tuesday, claiming the Victoria's Secret Fashion Show is off.

“It’s something I’m not used to,” the Victoria's Secret angel, 28, said. “Because every year around this time I’m training like an angel.”

Shaik said the brand is working on new ways to do the show.

L Brands, the parent company of Victoria’s Secret, did not respond to a FOX Business request for comment.

But take one look at the ratings in the past decade, and it’s not hard to see why executives are reconsidering where the show will live. Since 2009, the show's viewership has dipped below half of what they were previously achieving.

Even with powerhouse performances to accompany famous models down the catwalk, viewers haven't been tuning in for the annual event.

Indeed, it seems like not everyone wants to know what secret Victoria has up her sleeve.

Here’s a look at the last 10 years, and how many people tuned in to watch some of the world’s most beautiful models strut down the runway.

2009

Viewers: 8.3 million

It was the final walk for supermodel Heidi Klum down the runway after her 1998 debut.

Styles described by the brand included “Star Trooper” and “Enchanted Forest,” and a live performance by the Black Eyed Peas.

Some of the other famed models on the stage included Alessandra Ambrosio and Miranda Kerr. At the time, Adriana Lima was out because she was pregnant with then-husband and NBA player Marko Jaric.

2010

Viewers: 9 million

Back from maternity leave, Lima opened the show with Lily Donaldson and Ambrosio. Angels who took a time-out for their own pregnancies this year included Kerr and Doutzen Kroes.

Katy Perry sang her hit “Firework,” and Akon performed his aptly titled song “Angel.”

2011

Viewers: 10.3 million

This was a peak year for the show, taking the highest-rated spot for the network event in the last decade.

Performers included Kanye West, Jay-Z, Nicki Minaj and Maroon 5.

Behati Prinsloo shared the stage with her now-husband – Maroon 5 singer Adam Levine.

Chanel Iman and Erin Heatherton also making breakout performances among the angel crowd along with newcomer Karlie Kloss.

2012

Viewers: 9.4 million

Rihanna, Bruno Mars and Justin Bieber couldn’t compete with the previous year’s viewership, as nearly a million fewer viewers tuned in to watch the lingerie show.

It was Shaik’s second show for the company, and Jourdan Dunn’s first.

2013

Viewers: 9.7 million

This was the last year that L Brand’s signature runway show would get close to 2011’s success, perhaps thanks in part to a performance by Taylor Swift, who graced the runway with fellow performing artist Fall Out Boy.

Ming Xi and Joan Smalls were some of the newer faces joining regulars Lima and Abrosio.

2014

Viewers: 9.1 million

“Gilded Angels” and “Fairy Tale” were two of the themes encompassing the featured garb with musical performances by Taylor Swift and Ed Sheeran.

It was the first year for current staples Taylor Hill and Stella Maxwell to walk.

2015

Viewers: 6.6 million

In 2015, the show saw its biggest drop in ratings for the last decade.

Selena Gomez, The Weeknd and Ellie Goulding were drafted to croon as models strutted their stuff down the runway.

Reality show stars and social media giants Kendall Jenner and Gigi Hadid both debuted as angels. The pair of models kept up with the show through its last few seasons.

Jenner is considered the highest-paid supermodel, according to Forbes, raking in a cool $22.5 million in contracts and endorsements.

2016

Viewers: 6.7 million

This was the last year the show saw an increase – albeit slight – in viewership.

Lady Gaga and Bruno Mars both took care of the musical performances.

Bella Hadid joined her sister Gigi for some sisterly fun on the runway.

2017

Viewers: 4.9 million

The company pulled out all of the stops to feature the show from Shanghai.

Harry Styles was one of the main performances this year, alongside Miguel, and Leslie Odom Jr.

“Punk Angles” and “Goddesses” both encompassed some of the themes from the year that featured the last walk for Ambrosio. She was featured wearing “Swarovski Wings.”

2018

Viewers: 3.2 million

It wasn’t the best year for the show, to put it mildly. In fact, it was the worst year in the broadcast’s history on TV.

The Chainsmokers and Kelsea Ballerini were among the live performances, with the honor of a $1 million fantasy bra going to Elsa Hosk.