PolyGram was established in 1972. The company oversaw Deutsche Grammophon GmbH, existing since 1962.

The Polygram name was not new though. It had been used by Philips' Belgian Polygram SA since 1962. The New Zealand Philips company too was named PolyGram Records Ltd from June 1970 until November 1972 (when it was renamed Phonogram Ltd.).

From 1978 onwards the Polygram name became more common as most of the Phonogram companies worldwide were renamed to Polygram.
The local Polygram companies handled all PolyGram labels, most notably Philips, Verve Records Deutsche Grammophon. Over the years some of the companies also started using the Polygram brand as a label.

In 1985 Siemens reduced its stake in PolyGram to 10%. Two years later it sold its remaining stake to Philips' Gloeilampenfabrieken B.V. In 1989, Polygram completed a worldwide public stock offering, reducing Philips' ownership to 75%.

PolyGram acquired the recorded music and publishing arm of Island International Limited in July 1989 and the recorded music business of Rodven Discos in 1995.
In December 1998, Philips sold PolyGram to Seagram, which already owned the Universal Music Group, forming the largest recorded music business in the world.

Starting in the mid-1970s and continuing into the late 1980's, the center labels of US PolyGram sublabels began showing two-digit number ID codes signifying from which pressing plant the record originated. A partial list of confirmed plants and their corresponding numbers are as follows.
6 = All Disc Records, Inc.
16 = Electrosound Group Midwest, Inc. (post-ca. 1983)
18 = Presswell
19 = Bestway Products Inc.
22 = Allied Record Company
24 = Monarch Record Mfg. Co.
25 = Columbia Records Pressing Plant, Santa Maria
26 = PRC Recording Company, Compton, CA
49 = Specialty Records Corporation
53 = Hauppauge Record Manufacturing Ltd. (post-1981)
54 = Shelley Products
56 = Columbia Records Pressing Plant, Pitman
57 = Columbia Records Pressing Plant, Carrollton, GA (post-1981)
60 = Sound Makers
70 = RCA Records Pressing Plant, Indianapolis
72 = PRC Recording Company, Richmond, IN (post-Dec. 1972)
73 = Columbia Records Pressing Plant, Terre Haute
75 = GRT Record Pressing
76 = Hub-Servall Record Mfg. Corp. (post-1970)
There are some numeral codes which have so far been unconfirmed as to their corresponding pressing plants, including 30 (either Peter Pan Industries); plus other manufacturing codes (i.e. for cassettes) including 12, 15 and 35.