Willow Smith will play the lead role in Jay-Z's remake of the musical Annie, it has been reported.

The 10-year-old singer will appear in the film as Jay-Z and her parents Will Smith and Jada Pinkett-Smith plan to set up a new film production company, BBC Newsbeat reports.

"It's a perfect next step with teams that are accomplished, creative and innovative," Jay-Z said about the production company in a statement.

He added: "We're developing a true superstar in Willow."

The singer's debut single 'Whip My Hair' reached number two in the UK charts back in December.

Meanwhile, Willow Smith is set to join popstar Justin Bieber on his 'My World Tour' in March.

(by Holly Frith)