Scissor Sisters, rapper 50 Cent and Sir Paul McCartney will compete in the first awards ceremony to honour UK music festival stars and organisers.
Scissor Sisters compete in the "best live moment" category
Set up by music site Virtual Festivals, all 12 winners will be decided by online public vote from 15 November.
Sir Paul's Glastonbury appearance has been shortlisted in the "best live moment of the summer" category.
He competes with 50 Cent's hasty exit at Reading and Scissor Sister Jake Shears losing his T in the Park kilt.
Glastonbury, V Festival and Derbyshire's Download compete for the best major festival title, in a shortlist drawn up by 100 music journalists and photographers.
ANTHEM OF THE SUMMER SHORTLIST
Franz Ferdinand Take Me Out
Goldie Lookin Chain Guns Don't Kill People Rappers Do
Razorlight Golden Touch
Snow Patrol Run
Can't Stand Me Now
The Killers Mr Brightside
The Streets Dry Your Eyes
Bestival on the Isle of Wight, Masterpeace in Leeds and London's Tin Pan Alley feature in the best new festival category.
Pixies, Basement Jaxx and The Darkness are shortlisted in the best live act category, while Dogs Die in Hot Cars, Keane and Kasabian appear on the best live newcomer shortlist.
"Well over two million music fans attend festivals in the UK alone every year, so the Festival Awards gives these people an opportunity to recognise and reward those artists and organisers who made the summer one to remember," a Virtual Festivals spokesman said.