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{{UK music}}
The '''Mercury Prize''', currently known as the '''Nationwide Mercury Prize''' for [[sponsorship]] reasons, is an annual music prize awarded for the best [[United Kingdom|British]] or [[Republic of Ireland|Irish]] album of the previous 12 months. It was established by the [[British Phonographic Industry|BPI]] and BARD (the British Association of Record Dealers) in [[1992]] as an alternative to the industry-dominated [[BRIT Awards]]. It was originally sponsored by the now-defunct telecoms company [[Mercury Communications|Mercury]], followed in [[1998]] by [[Technics]] and starting in [[2004]] the [[Nationwide Building Society]] [http://www.nationwidemercurys.com/]. It is often observed that bands who are nominated for, or indeed win the prize experience a large increase in album sales, particularly for the lesser known nominees{{Fact|date=February 2007}}. Nominations are chosen by a selected panel of music executives in the music industry in the UK and in the Republic of Ireland.
The awards usually take place in September but nominated albums are announced in July.[http://www.albumofthemonth.com/mercurys2007.html] In 2007 the shortlist was announced on July 17 at The Hospital in London's Covent Garden. The awards ceremony, at which the winner will be announced, will take place on September 4.
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Less well known are the eight bands and artists fielding debut albums: [[Basquiat Strings]] with [[Seb Rochford]], [[Bat For Lashes]], [[Jamie T]], [[Klaxons]], Maps, [[New Young Pony Club]], [[Fionn Regan]] and [[The View (band)|The View]]. The other two nominees are the [[Young Knives]] and [[Amy Winehouse]], both of which already have one studio album to their name. Amy Winehouse was nominated for her debut album [[Frank (Amy Winehouse album)|Frank]] in 2004.
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