The idea of the new multi-purpose building was to be more interesting to the broader public than the traditional Vienna Musikverein.

In addition to the concert hall, the first drawings by Ludwig Baumann for the Olympion included an ice-skating area and a bicycle club.

Although the drawings were not accepted, today an ice skating area is situated right next to the building.

The Wiener Konzerthausgesellschaft also conducts several festivals during the year: The Historic Concert for the Benefit of Widows and Orphans of Austrian and Hungarian Soldiers was held at the Konzerthaus on January 12, 1918.

Its patrons were Kaiser Charles and Empress Zita, with posters designed by Josef Divéky.