The Beatles are the best-selling band in history, with EMI Records estimating sales of over one billion units. They have had more number-one albums on the British charts and sold more singles in the UK than any other act. According to the RIAA, as of 2012 they have sold 177 million units in the US, more than any other artist. In 2008, they topped Billboard magazine's list of the all-time most successful Hot 100 artists. As of 2012, they hold the record for most number-one hits on the Hot 100 chart with 20.
They have received 7 Grammy Awards from the American National Academy of Recording Arts and Sciences, an Academy Award for Best Original Song Score and 15 Ivor Novello Awards from the British Academy of Songwriters, Composers and Authors. They were collectively included in Time magazine's compilation of the 20th century's 100 most influential people.
The overwhelming consensus is that The Beatles had created a popular masterpiece: a rich, sustained, and overflowing work of collaborative genius whose bold ambition and startling originality dramatically enlarged the possibilities and raised the expectations of what the experience of listening to popular music on record could be. On the basis of this perception, "Sgt. Pepper" became the catalyst for an explosion of mass enthusiasm for album-formatted rock that would revolutionize both the aesthetics and the economics of the record business in ways that far outstripped the earlier pop explosions triggered by the Elvis phenomenon of 1956 and the Beatlemania phenomenon of 1963.