I was in a time crunch, and didn't have the right black spray paint on hand (like I thought I did), so I sprayed the shades with oil-rubbed bronze paint first, which made it really easy to cover the inside of the shade well.
The spray paint worked on the outer fabric wrap too, but it was a little trickier to get the saturation just right.
I did a light sanding after the spray paint dried, just to get any of the loose stuff off and and to smooth out drips. And then I lightly brushed on some black screen printing paint, which I'm learning is the best type of fabric paint around.
And I ended with a final light sanding.
It ended up being a lucky surprise how much I like the way the oil-rubbed bronze and the matte black paint finishes work together! Not at all sparkly like oil-rubbed bronze paint can sometimes be, but just enough of a sheen to look nice and, well, not spray painted. :)
Besides the obvious cost savings, fabric shades are much more durable. Paper shades start to show their wear after a couple years of being in a house with kids and moving a few times. And I think these look almost as good in person as a $120 shade from Just Shades (my favorite splurge shade source).