The Sydney leg of the Pandemonium festival, which is headlined by rockers Alice Cooper and Placebo, drew the ire of veterans after it was scheduled to take place at the Domain near the annual march through the city centre on April 25.
But promoter Apex Entertainment on Tuesday confirmed the event would instead go ahead at Sydney Olympic Park after talks with "key bodies" about moving the festival.
Chief executive Andrew McManus said the concert had been six months in the planning and it was one of many - both cultural and sporting - taking place nationwide on Anzac Day.
"It is disappointing that despite our best efforts to present the event in what we believe is an appropriate manner, there has been kickback from certain circles," he said in a statement.
"This is not an Anzac Day concert, it is an event that is taking place on the public holiday of April 25th, as are many other events."
Mr McManus added that $10 from each ticket sold for the event would go to Wounded Heroes, which provides crisis support to current and former defence personnel and their families.
Ticket prices start at $275.
RSL NSW president and former commando Mick Bainbridge earlier criticised the decision to hold the event, which he said was inappropriate on a "day for respect and quiet contemplation".
He said the city centre should be a place for veterans to commemorate on the day, although he added that holding any rock concert on Anzac Day was inappropriate.
Other major events are also held on the day, including the annual Anzac Day NRL and AFL matches.
But Premier Chris Minns previously said those events were different as they formed part of a long-standing partnership with the RSL.
"(A) reasonable person would be able to draw a distinction between a rock concert on Anzac Day and the other 364 days of the year," he said on Thursday.
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