Ed Sheeran to launch record label

LONDON, Nov. 5 (UPI) -- British singer Ed Sheeran want's to use his celebrity to help new acts make it in the music industry and has decided to launch his very own record label.

"The door has now been opened, I've set up the label and I'm going to start signing people," he told U.K. newspaper The Sun. "It'll be an imprint that goes through Warner. But I'll get the rights back in about 10 years."

Sheeran said he plans to focus on new project during breaks from his tour next year and that he already has at least one act in mind for his label.

"I've got my first signing in mind I'm looking at people like me, who came through the singer-songwriter scene," he said.

Sheeran rose to fame a couple of years ago after he opened Taylor Swift's Red tour and wrote a coupe of hits for British boy band One Direction. The 23-year-old achieved commercial success in 2014 with the release of his second album X (multiply) and plans to use his momentum to help out others artists.

"I'm in a really fortunate position to be able to break acts," he said.