The album "1962–1966 (widely known as "The Red Album") " was compiled by Beatles manager Allen Klein, with his selections approved by the Beatles themselves. Even though the group had had success with cover versions of songs, most notably with "Twist and Shout", which made #2 on the Billboard charts, only songs composed by the Beatles themselves were included.

It is recognised as the first Beatles compilation since their break-up on 10 April 1970. Both it and 1967–1970 were produced by Apple/EMI at least partially in response to a bootleg compilation titled Alpha Omega, which had been sold on television the previous year. Print advertising for the two records made a point of declaring them "the only authorized collection of the Beatles."