Ellen DeGeneres is really getting into this whole music thing.

The talk-show host, 52, who's just wrapping up her first season as an American Idol judge, has now started her own record label – inspired by 12-year-old phenom Greyson Chance, whom she discovered and has now signed as her first artist.

"Greyson ... inspired me to start a record label called eleveneleven. He is my first artist, and we are making a record together," DeGeneres says.

Chance, just 12 years old, has rocketed to fame thanks to his performance of Lady Gaga's "Paparazzi," posted to YouTube, from a talent show in his Oklahoma hometown. DeGeneres happened upon the clip when it had about 10,000 views and invited him on her show earlier this month. The video, including reposts, now has more than 30 million views.

Returning to The Ellen DeGeneres Show on Wednesday, Chance says he's overwhelmed by what's happened. "It's crazy thinking about 30 million people," he says. "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."

Madonna's manager, Guy Oseary, and Lady Gaga's manager, Troy Carter, have agreed to co-manage Greyson. Viewers will get a taste of Greyson's own songwriting talents on Wednesday, as he will perform an original song, "Broken Hearts," on DeGeneres's program.

DeGeneres says she'll use her new label to sign other artists she discovers through her show.