Alert: 2010 to be the year of DIY record labels.

Apparently no longer satisfied with continued box office success, film director Guy Ritchie has launched his own record label, Punchbowl Recordings. Named after Ritchie’s London Pub, the Punchbowl, the label will exist as a subsidiary to industry-giant Universal Music Group.

Continuing with the Punchbowl-theme, Ritchie already signed his pub’s in-house Irish group called the Punchbowl Band. Anyone who has seen Ritchie’s Sherlock Holmes, may be familiar with the band as they appear on its soundtrack. Speaking of his house band, Ritchie predicts they can make a splash in the pop world, “I’ve witnessed this band connect with people first hand. They have every chance of being embraced by a wider audience and I genuinely wish them the very best of luck with their debut album.” Pop producer and famous UK manager, Daniel Glatman seems to agree, as he initially brought the idea of Ritchie signing the band to his own record label while dining in the pub.

The band’s debut is set to be released March 1st, and no details have yet to be released. However, according to the band’s press release, while thePunchbowl Band plays traditional Irish music “they can use their bodhráns and pennywhistles on pop songs too.” For all of you who, like myself, that are not too acquainted with traditional Irish music, bodhráns and pennywhistles are comparable to a simple drum and flute. Personally, I just hope the album is easier to follow than Brad Pitt’s dialogue as Mickey O’Neill in Snatch.