Peter Gabriel to release new album without a label

Peter Gabriel will release his next album without being on a label. According to the London newspaper The Times, Gabriel has formed High Level Recordings with a venture capital firm, which has put up nearly $4 million to pay for recording and distribution. Gabriel doesn't have a record contract in North America, and this will allow him to keep the majority of the money from the new project. The director of the venture capital firm said, "If you're paying a small distribution fee and covering your own marketing costs, you enjoy the lion's share of the proceeds of the album." There's no word yet on when Gabriel might release the album, or whether he'll tour once it comes out.