Nick Jonas and Demi Lovato are undisputedly a dream team. From their beautiful duet “Avalanche” and their joint appearances as mentors on “The X Factor,” to Jonas’ role as the musical and creative director on Demi’s Neon Lights tour, they’ve proven time and time again that they’re a musical match made in heaven.

Now, the pair are taking their chemistry to the next level by going from friends to business partners. Nick and Demi have teamed up with manager/music executive Phil McIntyre to launch Safehouse Records, a joint venture with Island Records.

The new, “artist-centric” label aims to give future talent “participation in the success of the company as part owners,” as well as the “best marketing and promotion available,” according to Entertainment Weekly.

In a statement, Demi shared her enthusiasm about the announcement, saying, “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!”

Demi will reportedly release her fifth album under Safehouse, through a partnership between Island Records and her current label, Hollywood Records. Nick, on the other hand, is already signed under Island Records, so his transition to the new label should be pretty seamless.

This is a huge move for the young stars, and an especially exciting one because of the opportunity to give artists more creative control over their work. It’s also a somewhat unsurprising move on Nick and Demi’s part, considering they both come from a background with Disney Channel — where they both admitted they felt pressure to live up to a certain standard as well as stifling control over their image and music.

It sounds like Safehouse definitely has the management and the ideology to foster some incredible talent, and we can’t wait to see which inevitably awesome artists are signed!

In the meantime, let’s just give praise to the music world’s new real-life Lucious and Cookie Lyons. Hopefully their new musical "Empire" will thrive without any drama from supermodel con artists, surprise baby mamas, drug dealing pasts, or sudden life-threatening diagnoses.