Katy Perry preparing to launch own record label

The 27-year-old 'I Kissed A Girl' hitmaker said that she wants to avoid the things that take away any chance for an artist to have financial success.

Katy Perry. Pic/Santa Banta

"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," Perry said.

Should the project go as planned, the 'Firework' singer will follow the footsteps of other pop sensations such as Madonna, who created Maverick Records in the '90s, Prince, who started Paisley Park Records in 1985, as well as Frank Sinatra who founded Reprise Records in the '60s.