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Greyson Chance just took a big step toward becoming the next Justin Bieber.

The 12-year old YouTube sensation taped an appearance on Ellen this week (it airs today) and learned that the talk show host has started a new record label. Her first signee? Greyson Chance!

The company will be called “Eleveneleven” and Greyson will be co-managed by a pair of music heavyweights: Troy Carter (of Lady Gaga fame) and Madonna’s manager, Guy Oseary.

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Speaking on his rise to fame, and the number of individuals that have watched him online, Chance said:

“It’s crazy thinking about 30 million people. It just makes me happy. It really just hasn’t sunken in yet.  It has been two weeks and it still hasn’t sunken in yet. It’s awesome.”

Check your local listings to see when Ellen airs in your area. On the show, Greyson will perform an original single titled “Broken Hearts.” Listen to it NOW!