This book describes the emergence of DIY punk record labels in the early 1980s. Based on interviews with sixty-one labels, including four in Spain and four in Canada, it describes the social background of those who run these labels. Using the ideas of French sociologist Pierre Bourdieu, this book shows how the field of record labels operates. The choice of independent or corporate distribution is a major dilemma. Other tensions are about signing bands to contracts, expectations of extensive touring, and use of professional promotion. There are often rivalries between big and small labels over bands that have become popular and have to decide whether to move to a more commercial record label.