He made the decision after helping British band Babybird produce their new record by supplying the funds for studio time and even played on some of their tracks.
A source says that "Johnny has always been passionate about music. He's taking a really hands-on approach to signing acts. Obviously he can't get to as many gigs as he would like but he's got a good team around him and will personally vet any signings that they make."
Fantastic idea! We can't wait to hear who he lines up!
[Image via WENN.]