Wood, who was one of the principal stars in The Lord of the Rings, has founded Simian Records.
On February 7, the label will release its first disc with the band Apples in Stereo. The album will be titled New Magnetic Wonder. The CD of 14 songs and 12 instrumental pieces present several collaborations.
Wood will soon be returning to the silver screen, but only in voice. The actor provides the voice of Mumble, a penguin, in the film Happy Feet, which opens in November.