The Proms on the Pier event, which includes live local music and a live broadcast of the Last Night of the Proms, has been renamed Proms on the Bay, as part of the move.
The change has come about as the 1,250-capacity cruise ship Magellan is visiting the island from 8am until 6pm on Saturday, with passengers using the Albert Pier.
The evening will kick off with a broadcast of the new Jungle Book film on the big screen from 5.15pm.
South Esplanade will be closed from 7pm on Friday to 8am on Sunday and parking suspended.