TV3 scraps NZ's Next Top Model

Series winner Christobelle Grierson-Ryrie was NZ's first and now seemingly last 'next top model.' Photo / Supplied

TV3 says it won't be making another series of New Zealand's Next Top Model because money is tight in the advertising slump.

The models talent show, which takes no taxpayer subsidies, had been expensive but successful for TV3, said TV3 MediaWorks programming director Kelly Martin.

"It's done well for us. But we won't be able to afford it in the short term," she said.

Other shows were being dropped and TV3 was insisting on budget cuts, though its production spending was down less than 10 per cent.

The show rated well, with an average of 262,000 viewers an episode, according to AGB Nielsen figures.

This year, TVNZ scrapped its weekdays show Wheel of Fortune, saying it rated well but was not making enough money.