Inner-city Sydney is for everyone to enjoy and should not be locked up for the enjoyment of only local residents, Premier Chris Minns says.
The NSW Labor leader announced on Wednesday an annual cap on the number of concerts at Allianz Stadium in Moore Park will be lifted from four to 20, injecting a projected $120 million into the state's economy every year.
The restrictions were introduced more than 20 years ago following a Rolling Stones concert after local residents complained about noise.
Mr Minns described the cap as an attempt to turn Sydney into the town from the movie Footloose, in which a ban is placed on rock music and dancing.
"If you buy a house in the middle of the city, you can expect to live in a big city," he said.
"You can't turn Moore Park or Sydney into a country town.
"Infrastructure that's built in downtown Sydney is for everybody in this state, not just those that live in the immediate precinct."
An 11pm noise curfew will remain in place, with the exception of for the Mardi Gras after-party event, should it be relocated in the future.
ARIA chief executive Annabelle Herd said the change would create more opportunities to bring international acts to Sydney.
"Just as importantly, it gives great opportunities for our biggest Australian acts and also other Australian artists who are going to be supporting these major international tours," she said.
Mr Minns flagged making the change early in 2023 and confirmation of the shift came after eight months of consultation, which highlighted local residents' opposition to removing the cap.
Sporting groups previously flagged concerns raising the cap would have them evicted and playing on damaged grounds.
But Mr Minns said he was confident the venue could accommodate sporting events and a greater number of concerts.
"This venue is not just a sporting stadium; it's not owned by a particular code or sporting team, it's owned by the taxpayers of this state," he said.
"We can have major rock festivals, big concerts, as well as having wonderful sporting events."
Sport Minister Steve Kamper said the previous red tape had cost NSW hundreds of millions of dollars.
"We can't have a facility like this and only have four concerts a year," he said.
Business Sydney executive director Paul Nicolaou hailed the change while urging the government to extend the Metro rail network to Moore Park and confirm plans to overhaul the nearby Entertainment Quarter.
Of the 20 major events held at the stadium each year, two will be permitted to operate as 10-hour festivals, such as Wave Aid, between 10am and 11pm.
