5 Seconds of Summer has so much going on already, but they just added to their busy schedules with the official launch of their own record label under Capitol Records, Hi Or Hey Records.

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Last March, Luke Hemmings, Calum Hood, Michael Clifford and Ashton Irwin briefly mentioned on their band's website that the launch of their label was "coming soon."

Now, about a year later, the launch is here! Monday, the band took to their Twitter to tweet about the label.

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They also shared the label news on their Facebook and Instagram.

On the Twitter for the record label, the first tweet shares, "Welcome to Hi Or Hey Records..."

Hood even thanked the label for following him on Twitter. He also claimed, "love all the bands on ur label," which seems like he is hinting at some big news that will come in the future.

On the label's site, the 5SOS members dished, "We have created this label for you guys. We have achieved so much together over the last few years and if it were not for you, we don't know where we would be."

"As we come into 2015, we want to make sure that nothing changes and we keep working together to make all of our dreams become reality. We hear amazing stories from our fans every day of how you spread the 5SOS word. From our friends in the Philippines who have campaigned to get our songs on the radio for the last few years, to our the amazing girls in France who postered all around Paris, we are blown away by your support. We love watching you all come together around the world for your 5SOS meet-ups," the band added.

Why did they create their own label?

Well, they will release their own music through it "in partnership with Capitol Records."

"We will also be signing our own bands and releasing them via the label," 5SOS shared. So Hood's tweet definitely might be hinting at some big news in the future considering for now they're the only band signed to Hi Or Hey Records.

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5 seconds of summer, Music