Singer Psy has announced that he will be giving up his new song, "Daddy" as the title song and start fresh for a new album.

An official that was knowledgeable on Psy's routine for making albums commented, "Psy was not satisfied with the work he had done so far and decided to drop the album and start over."

It seems that it will take much longer to hear a new song from Psy. It might not be until the latter half of next year before we see something new from Psy. Some even believe that it might not even release next year as well.

Psy had announced earlier this year that he would release his new song, "Daddy" this August. Even Billboard had announced the news of this new dance song as well. However, he released "Hangover" in June along with the music video that revealed the words 'Daddy' at the end of the video.

With all the announcements and teasers revealed, many fans around the world were excited and anticipated the month of August to see what new song he would release. However, no new song was released in August and only news that he was currently filming the music video was heard.

Even photos of Psy filming for the music video in Korea was released online and had fans even more excited for the song.

It also gained much attention after hearing that Jung Woo Sung would be appearing in the music video as well.

However, working on his album kept getting pushed back as he had to leave for the YG Family concert, the Asian Games concert and other promotions. He also was busy preparing for the Christmas season 'All Night Stand 2014' concert as well.

An affiliate of Psy stated that he can release a song any time he wants to as long he chooses one that he is fully satisfied with. However, because he has so much pressure for his next song, it is hard for him to choose and work on it. His most recent song, "Hangover" also featured Snoop Dogg and releasing a new song that did not exceed his previous song was one of his biggest dilemmas and worries.

His rankings with "Hangover" on the Billboard and iTunes charts revealed that his "Gangnam Style" days were over.

Even though there has been a rapid decrease, many fans still wait as he is a part of YG Entertainment and so they have high hopes that a new hit song will be created in the near future.

Update: Star News stated that YG Entertainment had revealed the news about Psy ditching his 'Daddy' album was untrue.

YG stated that they have done extra filming for the music video already and that there would be no way they would trash it. They felt that some news was miscommunicated causing these rumors to surface.

A YG official stated that Psy will be releasing a new album that includes "Daddy" on the track list. They will also film around 2-3 music videos for this new album as well. When he releases the new album, they will also release the "Daddy" music video then.