The label was founded in 1978 by Perry as a side vehicle for showcasing new talent he was nurturing while he was still producing existing artists for other record labels. The first act signed to the label was the Pointer Sisters, who became the label's biggest sellers. Other acts on the label included Bill Medley, Greg Phillinganes, the Plimsouls and American Noise.[2]
Acquisition by RCA Records
Perry sold Planet Records to RCA Records in 1982, which operated it as a subsidiary label through late 1985, when it was liquidated. After the demise of the label, records by the Pointer Sisters, Phillinganes and Medley all appeared on the RCA Victor label. The remaining artists on Planet's roster did not have their contracts renewed.
