Katy Perry Plans to Launch Her Own Label

Katy Perry is planning to launch her own record label.

"I'm preparing for it now," she told The Hollywood Reporter. "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?' "

Perry is not only thinking about basking in her own success.  The pop queen wants to make a difference in the music industry beyond making a name for herself.  She hopes to make a way for others to achieve their dreams also.

There is history of pop superstars who have created their own labels. Madonna set up Maverick Records in 1992, Prince started Paisley Park Records in 1985 and Frank Sinatra founded Reprise Records in 1960.

The 'Wide Awake' singer has been signed to EMI Capitol since 2007.