Peony Records is a registered record label, however, it operates primarily as an artist collective based in Indianapolis, IN. The goal of the collective is to see the whole of the Indianapolis music scene flourish by connecting serious talent with serious talent buyers and local music with local listeners.

Peony Records is operated by artists in the collective and prides itself on allowing artists freedom over the conditions of their membership. Membership in the collective is not a record deal and many artists in the collective are signed to other labels. Peony Records only signs artists that are already a part of their artist collective. All music published by Peony Records is owned solely by the artists.