Photo: WENN.com

Katy Perry has revealed that she will be setting up her own record label in the near future, aiming to help out new acts with her own experience. 

Perry has long supported new music, chiefly female artists, through her tour support slots with Marina & The Diamonds, Robyn, Yelle and Ellie Goulding all going on the road with her.

Discussing her plans to turn music mogul with The Hollywood Reports, Perry said: "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."

Adding: "As people are coming to me with opportunities, I'm thinking, 'How would I want to be treated?'"

Earlier this week saw Perry reveal the video for her new single 'Wide Awake', the eighth single to be taken from her second album. 

Below: Katy Perry live in Newcastle