BeerFest No.1 has asked the City of Launceston council for nearly $100,000 funding for the event over two years.
In 2018, the council provided more than $46,000 to BeerFest after it was asked to move from its proposed date to New Year's Eve about five months out.
This was because Vibestown Productions, who had a triennial sponsorship agreement with the council to host the New Year's Eve event, said they would be unable to in 2018. Their agreement was set to expire this year.
More stallholders and children's activities are proposed for the 2019 event, while a combination of local and national entertainment will be provided throughout the night. A family and midnight fireworks display is proposed.
The event site will also be plastic and smoke-free in 2019.
An increased focus will be on event marketing with the chance for accommodation packages proposed.
In 2020, the event plans to expand into a two-day event. On Wednesday, December 30, 2020, BeerFest would run from 5pm to 11pm. It plans to have a corporate, and after work, focus. Music genres would be focused on older generations.
On New Year's Eve in 2020, it would run from 4pm to 12.30am and would have a family-friendly focus. A dedicated children's zone, family and midnight fireworks, music and entertainment for all ages, and beer and food matching demonstrations would be held.
More than 8800 people attended the 2018 event, which was a "significant" increase from the estimated 6500 that attended the 2017 New Year's Eve event.
Nearly the same amount of attendees were from interstate as local. With 3220 people coming from Victoria, 3371 from Tasmania and 1891 from Launceston.
"Statistics provided by Beerfest indicated that visitors stayed an average of three nights with an expenditure of $199 per night equaling a $1,884,526.00 visitor spend," the agenda said.
"The event has exceeded the expected benefits of the provision of a community New Year's Eve Event and has easily met the potential additional economic and tourism benefits."
More than 60 per cent of attendees were aged between 24 and 45, with nearly 1000 children attending with their families.
The council will consider the request at its meeting on Thursday.
Beefest Australia launched in Launceston nine years ago, and now delivers six festivals across five states.
In 2019, the event will celebrate its 10th year since it began as a craft beer festival. It has since developed into an event with craft beer, cider, educational forums, local beer and matching food, cooking and tasting demonstrations, live comedy and children's activities.