The alcohol brand is partnering with production company Secret Compass to deliver what it describes as the most extreme gig that Jägermeister has staged so far.
Modestep will be suspended thousands of feet in the air on a skynet amongst New Zealand's peaks. The date for the gig is yet to be announced.
Tom McShane, operations director of Secret Compass, said that the team will be using new technology such as 360 cameras to capture the experience and to highlight how extreme and event it will be.
This will be the seventh event in the "Ice cold gig" series. Previous executions have included a band playing on an iceberg in Greenland.
Tom Carson, Jägermeister's music manager, explained that the brand has a long history with music, and that that this project is a natural progression of the brand "supporting bands".