Despite regularly changing her mind about her future in the music industry, Lily Allen has now set up her own record label.

'In The Name Of' records has gotten financial backing from Sony Music which will see the 25 year old singer receive an annual salary of £100,000 along with start-up funds for setting up an office and hiring staff.

One of Sony's own A&R staff has been assigned to help Lily sign new acts, but Allen has already signed one hotly tipped new band, New York's Cults, who have been courted by several high profile labels. The label will release the duo's debut single 'Go Outside' on limited edition 7" vinyl and digital download.

Speaking about her new project, Lily said, ''I think things need to change in the music industry and we need to rethink a lot of stuff.''

Cults - Go Outside by wereofftherails