LabelWorx Invests $10 Million in Elevate, A New Program Supporting Independent Labels

LabelWorx, the distributor and label services company geared towards the electronic music space, has announced a new growth initiative called Elevate. This program will assist independent electronic labels with a fund totalling $10 million, as well as promotion opportunities and direct strategic support.

The main idea:

• Elevate is designed to close the gap between releases generating revenue and the money going back to the labels.

• This will allow labels to better capitalize on growth.

How it works:

• Money from the $10 million fund will be disbursed in advance of royalties.

• A senior Labelworx strategist will develop a bespoke 12-month action plan for each label.

• Labelworx will promote the labels with Pick N’ Mix Promo, its in-house marketing platform.

• The platform provides various services such as third-party playlist pitching, club / DJ promotion, and social media strategy.

What they said:

• Dominic Kerley, VP of LabelWorx: “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: “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.”