Record Labels To Hold 'Independents Day' This July

The mounting success of independent record labels is to be celebrated this July with a 48-hour worldwide event to mark ‘Independents Day’.

Taking place over the traditional July 4th weekend, ‘Independents Day 08’ will be headed by the release of a download only album made entirely of independent tracks.

An auction, which will include signed Thom Yorke artwork and lots from such acts as Interpol and The New Pornographers, will also be held.

The event has been organised by the World Independent Network - which brings together independent bodies from across the world.

It’s hoped that the celebration will help raise money from the limited resources that independent record labels have access to.

"We all have things lying around -- guitars, T-shirts, posters, whatever -- that are gold to somebody,” Peter Gordon, WIN’s vice-president told Reuters.

25% of all money raised from the event will go to MusiCares, a musicians based charity.