The 'TXT for Music' promotion, beginning March 2, will appear on 200 million cans and bottles, offering limited edition CDs and tickets to a series of exclusive gigs.
The flavoured cola will be the only product apart from original Coke to take part in the promotion.
Cherry Coke was backed by a youth-oriented campaign through Publicis in 1997, but has received minimal marketing investment in recent years.
Coca-Cola recently attributed improved US market share figures - up 0.6% to 44.3% - to the success of Diet Coke and Vanilla Coke, and is expected to follow the same strategy here. The UK launch of Vanilla Coke has been brought forward from June, but has no firm launch date.
'TXT for Music' includes tie-ups with Mis-Teeq, Feeder, Kym Marsh and Sonique. Consumers can build an account of 'music credits' toward CDs and tickets by texting in codes from special cans. Coke claims that it is the first mobile phone-based credit collection mechanic and the biggest-ever on-pack text promotion.