MONTREAL - Did you hear the one about the comedy festival that's launching a record label?

Okay, it's not a joke (or, fine, funny) - it's actual news: Just for Laughs, which now runs comedy festivals in Montreal, Toronto, Vancouver and Sydney, Australia, on Tuesday announced that it is launching JFL Originals, a record label that will record and promote original Canadian comedy.

"“There is a growing thirst for audio recorded comedy, both here in Canada and internationally. We are always looking to grow the JFL brand in ways that satisfy comedy fans and we want to capture and distribute more Canadian content to meet these demands,” said Bruce Hills, president of Just for Laughs. “JFL has identified an opportunity within the audio industry to create new, fresh audio content.

"We intend to reach out to a wide repertoire of artists who have immense comedic talent and appeal. We are looking forward to being a part of the creative process with them.”

Just for Laughs says its recorded content - which will feature comedy from seasoned pros and newcomers alike - will be distributed to terrestrial and satellite radio, as well as streaming services, including iHeartradio, Spotify, Pandora, SiriusXM, Apple Music, Google Play and more.

JFL Originals' first album will be recorded early next year, Just for Laughs said.