The competition, in the style of fantasy football game, will give music fans across Europe a €1 million budget to put together their fantasy festival line up.
Last.fm users will be encouraged to invite friends to compete through Facebook Connect and email. The music service will score musicians based on trends, listening data and online buzz, to determine the rankings, beginning in mid-November.
Weekly prizes will be awarded to the top competitor, as well as a grand prize at the end of the six month competition.
Miles Lewis, senior vice president of international sales at Last.fm said the campaign taps into the community side of the music platform, giving players the chance to build up an accurate picture of up and coming acts from around the world.
"Last.fm has always been about bringing to life the social side of music," he said. "Sony is going to engage with this community in a very smart way that I'm sure will get our users buzzing and our robust data will make sure that the best festival line ups will win."
The campaign is the brainchild of Altogether, while OMD International was responsible for the partnership with Last.fm.
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