Katy Perry - Katy Perry To Launch Her Own Label

Katy Perry To Launch Her Own Label

Katy Perry is launching her own record label.

The 'Part of Me' singer is working on plans to create a company which gives power to the artist rather than label executives.

She told The Hollywood Reporter: ''I'm preparing for it now.

''And when this record label does come to fruition, I'm going to try and avoid the things that take away any fighting chance for an artist to have financial success. As people are coming to me with opportunities, I'm thinking, 'How would I want to be treated?'''

By setting up her own label, Katy - who has been signed to EMI's Capitol Records since 2007 - will follow in the footsteps of Madonna, who started Maverick Records under Warner Music Group in the 1990s; Frank Sinatra, who founded Reprise; and Prince, who created Paisley Park Records in 1985.

Katy also ploughed two million dollars of her own money into funding her new movie 'Katy Perry: Part of Me' but admitted her business manager was not impressed.

She said: ''My frugal business manager [Bernie Gudvi of GSO Business Management], God bless him, was sweating and I was like, 'Please trust me.' That's kind of been the mantra I've said to everyone my whole life: 'Trust me, I have a vision.' ''