A Tasmanian concert promoter says the state does not have the money or population to sustain a new stadium and entertainment venue. Concert promoter Charles Touber has an impressive record of bringing the biggest names to the state over his career - such as the Ramones, Iggy Pop, Tina Turner, Foo Fighters, Beastie Boys, AC/DC and Bryan Adams. Aside from the new development at Macquarie Point in Hobart being contingent on an AFL team licence, it has been argued that the stadium will attract sporting and musical events and that the state needs an appropriate venue to stage them. Mr Touber appeared before the Public Accounts Committee inquiring into the feasibility of the Macquarie Point development. Drawing a comparison with the AC/DC concert attendance and the figures from MI Global Partners, Mr Touber said the stadium would need to host the equivalent of five or six AC/DC concerts each year. He said the business case's forecast crowd estimates did not stack up, which was an acknowledgement of the stadium's financial unsustainability. "As a business case, it's a basket case," he said. "That's not a business model; that's just wishful thinking." MI Global Partners has proposed an annual event calendar of 44 events at the proposed venue, of which 28 would be new to Tasmania. It has said it could be achieved by an estimated acquisition budget of $5.3 million. The consultants estimated that the stadium would attract three tier-one international concerts with an attendance of 30,000 people and five international or big Australian acts with an attendance of 15,000 people. Outside of festivals held in Tasmania, Mr Touber said the largest concert to be held in Tasmania was at the TCA Ground with AC/DC in 2001, which attracted 16,000 people. He said the show did not sell out and was a significant financial loss for the band on that tour. Mr Touber said the Tasmanian public was fickle when it came to buying tickets to significant musical events, and there was not the disposable income within the community to pay the ticket prices demanded by significant musical acts. He said a big international act had limited spaces in a tour schedule, which meant venues with a 50,000-seat capacity would be selected over smaller venues.