Records became the first U.S. record label to release cassette music tapes (Musicassettes). In 1969, Mercury changed its corporate name to Mercury Record Productions Inc., while its parent Conelco became North American Philips Corp. (NAPC) after Philips bought control of the company.

Philips and German electronics giant Siemens reorganized their joint-ventured record operations, Grammophon-Philips Group, home of Deutsche Grammophon,