Lily Allen Launching Her Own Music Label

After saying she was quitting music altogether, Lily Allen has changed her tune. Instead, the 'It's Not Fair' hitmaker will take a lengthy break after trying her hand at another side of the music industry.

"I'm setting up a record label at the moment, getting involved in lots of different things," Allen told the Telegraph this week. ''I think things need to change in the music industry and we need to rethink a lot of stuff.''

While she didn't reveal a name for her imprint, Allen joked that the artists she plans to sign will be ''terrible ones that work on the radio.'' The singer made these comments after picking up "Best Track" honors for her single, 'The Fear,' at the Q Awards in London.

As for her hiatus, which is set to begin after her 2010 tour with Dizzee Rascal, Allen told Bang Showbiz, "I'm definitely taking a break. I've been on the road for nearly five years so I'm tired and I need a break."

"I've written about just about everything that's happened in my life so I feel like I need to go out and live a little bit more and then I'll see what I'm going to do," she added. In addition to her label plans, Allen may get theatrical. "I might be doing [a] play, it isn't confirmed yet. I'm just keeping all my options open."