At the age of 27, Katy Perry has already sent 11 singles to the top 10 of the Billboard Hot 100 and sold 3.7 million albums to date, according to Nielsen SoundScan. She's been an actress and will soon be hitting the silver screen with the July premiere of her 3D movie, "Katy Perry: Part of Me 3D."
Now she'll add an executive title to her resume -- the pop star revealed in her Hollywood Reporter cover story  that she's in the process of launching her own record label. "I'm preparing for it now," Perry said of the as-yet-unnamed imprint. "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."
Once the label is formed, Perry -- who has been signed to EMI's Capitol Records since 2007 -- will follow in the footsteps of fellow pop superstars Madonna, who started Maverick Records under Warner Music Group in the '90s; Frank Sinatra, who founded Reprise; and Prince, who created Paisley Park Records in 1985.
Perry also discussed her upbringing, divorce from comedian Russell Brand, upcoming 3D film -- which she helped to finance with her own $2 million -- and more in the interview.