The venue occupies a 2 ha site within the City Botanic Gardens and has a capacity of 9,500.

When the site reaches full capacity a live screening area adjacent to the Riverstage may be used.

Riverstage was officially opened on 7 September 1989 by Lord Mayor of Brisbane, Sallyanne Atkinson.

In 2011, a Queensland Relief Concert was held in which the Foo Fighters played to a sold-out crowd.

Because of the open nature of site, attendees to a Tate McRae concert in November 2024 were evacuated to a nearby carpark due to intense lightning activity caused by the storms.