Victoria's Secret Fashion Show leaves network TV

NEW YORK -- The Victoria's Secret Fashion Show will not return to network television after a nearly two-decade run.

Executives made the announcement Friday, saying they will develop a new kind of event on a different platform, though they gave no further details.

The show first aired in 2001 with an hour-long special on ABC.

The televised fashion show originally attracted millions, but ratings plummeted by roughly two-thirds in recent years, according to the New York Times.

The show has sparked criticism for objectifying women, and last year, company CMO Edward Razek was under fire for comments he made about plus-sized and transgender models.