Headlining each night will be the adults only, champagne-soaked cabaret Blanc de Blanc, a homegrown Australian production currently playing out a long season on the Las Vegas strip.

Announcing the tent's 2020 return, Merrigong Theatre Company artistic director Simon Hinton said it had been a difficult decision to bring it back, as it had not broken even during its first three seasons.

"After three years, it still doesn't break even," he said.

"These things are really quite expensive - the tent is an antique tent brought from Europe, and all the technical set up and site set up, and the cost of bringing the shows is all quite costly."

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"It has been successful - on average about 14,000 people come through each year but we really need to get that up to about 18,000 people for the event to be self-sufficient."

Mr Hinton said he wanted to be open about the challenge of bringing the tent to the city to encourage residents to support cultural events.

"I guess I want people to know that these things won't just keep happening if you don't support them," he said.

"We've agreed, with our partners [production company]Strut and Fret, to do this for one more year, which was a difficult decision because Merrigong is a not-for-profit that doesn't have huge financial reserves.

"Each year, Spiegeltent Wollongong has cost money on our bottom line, so we can't do it forever if it doesn't become self-sufficient.

"But in the end, for our board, we want to live in a city where these types of things are possible and we want to make it possible. But obviously there is a limit."

Mr Hinton said Blanc de Blanc would be the perfect vehicle to bring in big crowds.

"This is Strut and Fret's highest selling show, and it's currently on a long residency on the Las Vegas Strip," he said. "It's a total escapist fantasy party, it's a little bit naughty and it's just great fun, world class circus skills on display with great music - I think there will be a lot of people who want to come back for a second show."

Since 2017, the antique mirrored tent has set up outside the performing arts centre in April, transforming the precinct into a cabaret, comedy club and bar.

In the past, the headline show has been preceded by some of the country's best comedy and music acts, many of whom who have toured with the Melbourne Comedy Festival and Adelaide Fringe Festival.

Next year's season will run from April 9 to May 3, with the full list of music, comedy and family shows announced early in the year.