Hip-O Records was established by Universal Music Group in 1996 as a branded concept label within UMG's Special Markets department. Hip-O develops and markets cross-label compilations, packages, series, and specialty artist releases culled from the archives of UMG and outside labels. In October 1999, it was one of several UMG special-market and back-catalog divisions that was brought under the Universal Music Enterprises umbrella organization.

The Hip-O brand often appears alongside other prominent label logos on releases, even on CD spines. In Discogs, these releases should be filed under Hip-O Records.