Do you have a spare £27? Do you want a completely frivolous, utterly pointless and totally ridiculous way to spend it? Look no further than the Smashing Pumpkins website.

Billy Corgan and friends have announced a new service in which subscribers can pay $40 to receive video updates from the band in the studio for 12 weeks.

No new material, or old classics. Just video updates.

"I am excited to make this offer to anyone who might be interested in what goes on behind the wizard's curtain," wrote Corgan . "It is my goal to far exceed the normal documentary process and use the moment to create something that invokes synchronicity, electricity and faith into a moment that is ever unfolding."

If you want to forget the recession and have a nose around “behind the wizard’s curtain” instead, visit the Smashing Pumpkins official website.