The motion picture soundtrack album for Fame was released in the U.S. on May 16, 1980, by RSO Records.

In his later review for AllMusic, Stephen Thomas Erlewine awarded the album five stars out of five and wrote, "Yes, the production techniques often do sound dated ... but the music by Michael Gore is dynamic, varied, and alive, sung with real passion and vigor, and it still retains its essential spark 23 years after it was a pop culture phenomenon.

"[2] In the US, the title song "Fame" was released as a single in May 1980, and reached number 4 on Billboard's Hot 100 chart while the album reached number 7 on the Billboard 200 chart.

"Fame" was released in the UK at the end of June, however, it failed to chart.

However, in June 1982, after the success of the Fame TV series, "Fame" was re-released, topping the Singles Chart for three weeks, spending a total of 16 weeks on the chart and it became the second biggest selling single in the United Kingdom of 1982.