Patrick Wolf takes on the ailing economy by offering shares in new album

    Flamboyant English singer-songwriter Patrick Wolf is feeling the strain of the economy bearing down upon him as he sets out to record the follow up to his Magic Position album. Wolf is asking fans to buy shares in his new two-disc record, which is due in the spring of 2009, and is to be titled Battle. Wolf promises each disc will be remarkably different, saying: “one disc is a pure nihilistic battle record, and the second is battles of love."

    The thought of buying shares in anything seems like a risky proposition at the present time, but Wolf is only asking for a £10 fee (about $15 at the current exchange rate). "Basically, you can invest in the finishing of the album and the production of it, and you get a share in the album,” says Wolf. “So you almost become part of the record company, like a co-owner of the album."

    The album is set for release on Wolf’s own Bloody Chamber Music label, and the singer boldly declares the share scheme is “the beginning of the future for artists and musicians in the music industry. There’s no way we can rely on conglomerate, corporate companies anymore.” If you’d like to invest in Wolf’s own corporate venture, you can buy shares in Battle by going to the website Bandstocks. At the time of writing this post, Bandstocks is reporting that £80 has been raised for Wolf’s album. [NME]