The account, which was worth £4m in the UK during the 12 months to April, is currently held by Sold Out Advertising, a full service agency specialising in arts and entertainment, but Live Nation has approached agencies with an expanded brief.
Live Nation has a deal to sell tickets through Ticketmaster that is due to expire next year. This could lead to Live Nation looking to promote its own ticketing service. It manages Wembley Arena, T in the Park and the Reading and Leeds festivals.
The promoter recently signed a string of deals with major artistes. Madonna signed a $120m (£61m) deal with LiveNation last October after parting from record giant Warner Music. Jay-Z and U2 are also on Live Nation's books.
A spokesman for Live Nation confirmed that a review is underway. "It's at a very early stage and there are a number of agencies preparing to pitch."
"It is at the moment UK-only but our business spreads across Europe so it may be at some stage that the agency will have to work beyond the UK."
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