LabelWorx has been operating as a distribution and label-services provider for 15 years, specializing in electronic music. The company has introduced a new initiative, ‘Elevate’, to offer financial support to select labels within its network.
The ‘Elevate’ scheme will provide $10 million in upfront capital to chosen labels, alongside “tailored growth strategies, promotional opportunities… and ongoing strategic support.” The fund will concentrate on independent electronic music labels demonstrating strong potential for expansion but facing financial limitations.
“Independent labels move culture forward but too often are constrained by slow royalty cycles and limited access to capital. We want to change that with Elevate,” stated VP Dominic Kerley.
The initial round of funding will allocate $10 million, with a total commitment of $25 million planned for the scheme’s future.
