This comes after the concert started losing support due to the involvement of controversial musician Steve Hofmeyr. Gauteng Education MEC Panyaza Lesufi made calls for sponsors of the annual event to boycott it after a tweet Hofmeyr once tweeted in 2014 resurfaced.
TSAM said in a statement that they would be ending their association with AIG this month - which also marked the end of the 2018 AIG season.
Both parties have honoured their contractual agreements since 2015. The partnership was mutually beneficial to both parties.
The tweet, claiming black people were the architects of apartheid, had social media abuzz with people questioning Hofmeyr to explain what he meant. Pick * Pay and Land Rover pulled out of the event in 2015.
TSAM said the organisation was fully committed to the development of arts and culture and would continue to sponsor other creative and musical events that promote diversity and social cohesion in the country.
Event organisers said they would be relying on the public to help fund the event through the campaign #JouAIG in support of all the artists performing, including Hofmeyr.