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Although this article should pass criteria 5 of WP:MUSIC, The main reason that this article may fail is because the references don't seem very notable. This article follows WikiProject Electronic music and most references here are notable enough to be listed as 'news coverage' in the 'Electronic music sources' section. Nevertheless, here is a list of most references (without a Wikipedia page) used in this article with an 'about us' page which would have a list of editorial staff showing that these sources are not just blogs and have some sort of editorial oversight or staff:
Editor In Chief and Co-Founder - Cal, Co-Founder - David King, Managing Editor - Jeffrey Yau, Graphic Designer - Sydney Jones, East Coast Regional Editor - River Myers, 12 other staff/editors
President & CEO - Jorge Brea, Editor-In-Chief - Jeanette Kats, Video Production - Lorenzo de la Cantera and Vanessa Johnson, Graphic Design - Adam Bentley, Advertising and Marketing - Janette Berrios and Greg Vinas, 16 Staff Writers
Founder & CEO - Steven Jacobs, Editor in Chief - Erik Mahal, VP of Events - Kris Novak, Director of Photography - Joseph D'Oria, VP of HR Operations - Bruce Genovese
CEO - Elliot Sachs, CFO - Nick Ward, Editor-in-Chief - Matthew Meadow, Label Director - Greg Sills, Chief Content & Social Media Manager - Lucas, Content Curator - Ben Jacobs, 15 other staff.
I have accepted this draft on the basis that it satisfies criteria #5 at WP:NMUSIC, as multiple notable musicians are affiliated with Monstercat and it therefore qualifies as "one of the more important indie labels". I believe this has may have changed since the last AfD.