Waterbug Records is a small independent record label based in Glen Ellyn, Illinois specializing in singer-songwriters and traditional folk musicians who do original research. The label was founded as an artist cooperative label in 1992 by singer-songwriter Andrew Calhoun. Calhoun described the label in a column written for Sing Out!: "Waterbug is largely an artists' co-op. All the artists own their recordings and publishing rights.