Liberty's early releases focused on film and orchestral music. The record label's first single and big hit was Lionel Newman's "The Girl Upstairs."
By 1958, Liberty was close to bankruptcy when Ross Bagdasarian, Sr. convinced them that they might as well press singles of "The Chipmunk Song (Christmas Don't Be Late)" with the leftover vinyl pucks and labels in their warehouse. In just a few months leading up to Christmas of 1958, the record shot to the top of the charts. It became the only Christmas record to reach #1 on the pop chart, selling 4.5 million copies, saving the business.
- Libert Records - Wikipedia