David Bowie connection

If Bowie did name the album (I don't know if he did) after a film it was almost certainly the earlier silent version of this story directed by Hitchcock. The Hitchcock version is reasonably well-known, at least among people interested in film history, as the first film which really seems "Hitchcockian". This version directed by Maurice Elvey is almost completely unknown.

The Hitchcock version also cropped up occasionally in the UK on TV and in film societies and repertory cinemas in the 1960s and 1970s when the young Bowie might well have seen it.
This later version has been (rather undeservedly) virtually unseen since it was made although it is currently on youtube under the title "The Phantom Fiend".