A TV show that has been running for a decade and a half “may have run its course,” The New York Post’s Page Six declares in a piece reporting that Bravo’s “Project Runway” “failed to get an Emmy nod for the first time in its 15-year run as ratings have plunged by half year on year.”

The report notes that supermodel Karlie Kloss, who took over as host following the departures of Heidi Klum and Tim Gunn, has just one year left on her contract.

The report quotes a source saying: “Karlie signed a two-year deal, so you’ll see her on the next season, but it’s doubtful that she’ll return.”

According to The Post’s sources, the show’s producers love Kloss. Says one source: “Karlie is a delight, but without Heidi and Tim, it just changed the dynamic of everything.”

The insider added: “And let’s face it, Karlie always has an enormous amount of work.”

The source also said: “It will not be a surprise if the show ends after the next season. Not getting an Emmy nomination really says a lot.”

The Post adds: “Launched on Bravo in 2004, ‘Project Runway’ earned consecutive nominations for each of its first 14 years on the air for Outstanding Competition Program. It has won Emmys for best host in 2013 and an editing award in 2009.”

A spokesperson for Bravo had a different take, saying: “Ratings were strong and grew week after week, and there continues to be major support for the show from the network. We are excited about the next season, which is currently in production, and for many more after that.”