Basin Street Records was formed in 1997. The first project for the label was the recording of Kermit Ruffins' The Barbecue Swingers Live in November 1997 in front of a packed house at Tipitina's in New Orleans.
Basin Street Records went on to sign Los Hombres Calientes in March 1998, and in April and May 1998 led all labels with CD sales at the New Orleans Jazz and Heritage Festival. Since that festival, Basin Street Records has had top selling CDs at every New Orleans Jazz and Heritage Festival.
Basin Street has shared in the success of its artists and has received offBeat's Best of the Beat Award for Best Record Label six times (2000, 2002, 2003, 2004, 2005 and 2009). In addition, Basin Street was named Music Business of the Year at the Best of the Beat Awards in both 2003 and 2004.