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Punk Label Donates $1million to Charities
October 30, 2007, 10:23 pm
Filed under: Companies, Music, News, Non-profit | Tags: , , ,

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While other music labels are whining about the music industry. Hopeless records is giving money away to causes!

Sub City record label was created 8 years ago by the newly-prolific punk label Hopeless Records when they reached a point of selling more albums than they needed to support the label itself. Louis Posen – founder and president of Hopeless Records – thought it would be a good idea to start a second label that would be devoted to helping out less-fortunate people through donations and raising awareness. The name Sub City in part describes the subsidies it would provide to non-profit organizations, as well as declaring the underground roots of the music and people who are involved. Today Sub City and Hopeless Records are celebrating their million-dollar-milestone. Between Sub City’s sales proceeds and Hopeless Records’ Take Action Tour, the group have donated more than $1 million USD to more than 50 nonprofit organizations.”

Posen describes the charity structure as such:

“We wanted it to be clear to the fans that when they buy a release, 5 percent of the suggested retail list price is going the charity they see on the back of the record and in the literature in the insert and they know that’s coming from the label and the artist and it’s based on gross, not on profits. So they can be very clear what the donation is, where it’s going and who’s giving it.”

Whining and complaining about your industry doesn’t help anyone. So for all the other labels out there. Take some notes from Hopeless Records.

Via > Music News Culture

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