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Demi Lovato and Nick Jonas Partner with Island Records to Start Record Label

Demi Lovato, Nick Jonas and manager Phil McIntyre have partnered with Island Records in a new joint venture.

Safehouse Records is the home of a new artist-centric label that will not only see the release of the next Demi Lovato album -- her fifth studio effort, which will arrive via a creative partnership between Safehouse, Island and her current label, Disney-owned Hollywood Records -- but also new signings in the near future.

Says Lovato in announcing her part-ownership in Safehouse: "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!"

Label co-founders Jonas and McIntye add that teaming up with Island means "access to the best marketing and promotion available."

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