Services and distribution business and electronic music specialist LabelWorx has launched a new initiative aimed at helping independent labels grow faster.
Elevate will accelerate the growth of independent electronic music labels through upfront capital, strategic planning and promotional support.
Independent labels move culture forward but too often are constrained by slow royalty cycles and limited access to capital
Dominic Kerley, LabelWorx
The scheme is designed to address the delay between releases generating revenue, and labels receiving royalty payments, with LabelWorx set to provide selected labels with $10 million in capital in round one..
Dominic Kerley, VP of LabelWorx, said: “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, a LabelWorx client, added: “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.”
Participating labels will receive capital advances before royalties land, as well as a dedicated 12-month growth plan developed, priority access to the LabelWorx Pick N’ Mix promo support and reviews focused on optimising ROI, long-term partnerships and more.
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‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.musicweek.com ’
