LabelWorx Invests $10 Million in Elevate, A New Program Supporting Independent Labels
LabelWorx, a distributor and label services company focused on electronic music, has launched Elevate, a new program designed to support independent electronic labels. The initiative includes a $10 million fund, promotional opportunities, and strategic support.
Elevate aims to improve the financial flow between release revenue and label income, enabling labels to better leverage growth opportunities.
The $10 million fund will provide advances against future royalties. Each participating label will receive a customized 12-month marketing plan developed by a LabelWorx strategist. LabelWorx’s $10M Indie Electronic Fund Is the Clearest Sign Distributors Are Turning Into Financiers
LabelWorx will also utilize its in-house marketing platform, Pick N’ Mix Promo, to promote the labels. This platform offers services including playlist pitching, club and DJ promotion, and social media strategy.
Dominic Kerley, VP of LabelWorx, stated, “Elevate is our commitment to the electronic music community and the labels shaping its future. 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. We’re combining funding with real strategy to help labels grow at the pace they deserve while building sustainable long-term business every step of the way.”
Ky William, Founder of Andhera Records, said, “Thanks to the advance from LabelWorx, I’ve been able to focus fully on my label and my music without worrying about where the next pay cheque was coming from. That support has helped me grow the label twofold over the last 12 months.”
