Amy Winehouse is planning to quit her record label, Island Records, after her next album, according to reports.

The singer apparently wants to take control of her finances – starting by setting up her own label.

"It’s never been a huge deal in the past, but she is beginning to realise everyone else is making all the money out of her success,” a source told the Sun newspaper.

Winehouse’s deal with Island, a subdivision of the Universal Music Group, is due to end following her next album.

According to the newspaper, the singer wants to set up her own label to promote music by her friends, as well as her own tracks.

(by Jason Gregory)