It comprises the two studio albums recorded by the band in 1988 and 1990, with additional bonus tracks, and a DVD containing their music videos and a documentary about the group.

[11] The release was overseen by George Harrison's estate, as the rights holder for the Wilburys' catalogue, and ensured that the band's recordings were available for the first time since they went out of print in the mid 1990s.

[2] Two of the bonus tracks were completed for the box set by Jeff Lynne, who co-founded the Wilburys in 1988, and Harrison's son Dhani.

The Traveling Wilburys Collection was commercially successful, topping albums charts in Britain, Ireland, Australia and several other countries.

In the United States, the set debuted and peaked at number 9 on Billboard's Billboard 200 album chart,[13] beating the record held by Nirvana's With the Lights Out for the highest debut of a box set, although Nirvana's sold more copies (119,000).