Wow! This is going to be HUGE for Nick Jonas and Demi Lovato
From working together on Camp Rock as well as the hit song Avalanche, we already know Demi Lovato and Nick Jonas make a great team.
And now the former Disney co-stars have announced the launch of their new record label, Safehouse records.
Along with their manager, Phil McIntyre, the pair have now finally let us in on their big news.
A week previously, Demi left us in suspense following a teaser she posted to Instagram depicting pens and two contracts, complete with the caption: "Big news coming very very soon!!!!''
Their record label has been set up with the help of Island records and Hollywood records, a grouping through which Demi will release all of her future music.
In a statement, Nick and Phil said: "Our focus at Safehouse records is to put artists in control of their art while providing them the best tools to manage their careers. Through our partnership with Island records they will also have access to the best marketing and promotion available."
Demi also took to Instagram to thank her manager, Phil.
"When so many others had given up on me, he never did," she said, referring to her previous battles with alcohol and drugs. "He told me he cared too much about me to watch me self-destruct."
