Filmmaker Baz Luhrmann has signed a new deal with Rca Records to create his own custom music label.

The Moulin Rouge! director will utilise the new partnership to release music from his film, Tv and theatre projects on Bazmark Records. He'll also sign new artists and acquire rights to other recordings.

Luhrmann announced his new project in a statement which reads: "While I'm probably best known for storytelling and ideas my true passion has always been music. You can imagine what it feels like for someone from a small town in Australia to be invited to join the legendary record label Rca, home of The King (Elvis Presley), and so many musical legends and personal heroes.

"My current work is all music-driven, and all of it requires classics or new music artists. I'm going to try to build a home that has a great foundation, and I hope it has longevity. I would feel useful if just one or two artists found their creative road through the home we're about to build."

Luhrmann has found success in curating exceptional soundtracks for his films, and the records for his movies such as The Great Gatsby, William Shakespeare's Romeo + Juliet and Moulin Rouge! have been some of the top-selling soundtrack albums of the past 15 years.

Luhrmann is currently working on a 1970s-set hip-hop musical drama for Netflix, called The Get Down.