AceShowbiz -

Nick Jonas and Demi Lovato form a new label. They announce Safehouse Records with music executive Phil McIntyre, partnering with Nick's current label, Island Records, and Demi's, Hollywood Records. Nick's 2014 self-titled album is the label's first release. It will be followed next by Demi's new record.

Besides housing the release of Nick's and Demi's album, Safehouse "will seek to sign talented artists to join them at Safehouse Records where artists will enjoy participation in the success of the company as part owners." The label is "conceived as a safe, protected environment where artist's creativity is supported."

"Our focus at Safehouse Records is to put artists in control of their art while providing them the best tools to manage their careers," said Jonas and McIntyre in a joint statement. "Through our partnership with Island Records they will also have access to the best marketing and promotion available."

Demi said, "I've worked closely with both Nick and Phil for years and we share the same point of view when it comes to making music. It's incredibly exciting to be part of this new company where I'm in control of all aspects of my career. I can't wait to share what we're working on!"

Lovato was previously part of a UMG/Hollywood/Jonas Brothers partnership which is now defunct after the band split.