Nick, who hosts the Radio 1 Breakfast Show, expressed his desire to nurture and develop artists.
He told The Sun: "I've always wanted a record label. Always. I have always wanted to manage acts and always wanted to make music videos.
"I keep saying it to my friend Emily, 'Let's start a label, a managing company, we'll do music videos, we'll do everything'. She's like, 'When are you free?' and I'm like, 'Emm, Christmas?'"
This year is super busy for Nick, as he will have to balance his radio job and role as a judge on The X Factor, where he will mentor and guide them throughout the competition too.
Nick's appointment as new judge alongside Rita Ora was announced last month, but some fans questioned his new role because he is not an artist.
Simon Cowell defended his decision to hire Nick, telling the newspaper: "I have an issue with artists judging other artists. I would never allow a group of artists to run the record label, that would be crazy. You have to balance it up a bit."
And, fellow radio DJ Sarah-Jane Crawford also defended Nick, telling Reveal: "It was a different choice but a good one. If a popstar can make a call, why can't a DJ?
"I think us radio DJs, we know what we're doing when it comes to new talent because we do a lot of A&R that people don't see. I think Nick's a good choice because we are always interested in new music."
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