Monument Records was founded in 1958 in Washington D.C. by producer Fred Foster and Buddy Deane, a prominent Baltimore disc jockey. Buddy Deane soon left the company, but Foster remained active with the label until 1983. In the beginning, Monument was the first of London Records distributed labels. The signing of Roy Orbison brought success to Monument Records, beginning with the 1960 release, "Only the Lonely". By 1961, London Records was distributing more than forty independent companies, prompting Foster to move Monument to the independent-distributor network. In 1971, Foster signed a world-wide distribution agreement with CBS Records.
In addition to Orbison, Monument became home to artists such as Robert Knight, Kris Kristofferson, Boots Randolph, Dolly Parton, Ray Stevens, Tony Joe White, Willie Nelson and Robert Mitchum. Foster started a soul and R&B label Sound Stage 7 in 1963. Another Monument sublabel was Rising Sons Records.
In 1990, CBS Records acquired the Monument catalog, and its successor company Sony Music reactivated the label in 1997 as a country label. Some successful artists signed to Monument during this era were Little Big Town and the Dixie Chicks.