Tuesday marked the start of the yearlong 75th anniversary celebration, which included the declaration of Nov. 15 as "Capitol Records Day" in the city by the Los Angeles City Council.
Capitol Records is the first record company to receive a Star of Recognition by the Hollywood Chamber of Commerce. The star is located near the Hollywood Walk of Fame, outside the Capitol Records Tower on Vine Street.
Perry spoke at the star unveiling ceremony, saying the label has "magic and history."
"My previous encounters with other record companies had not gone so well, but let's just leave it at that. RIP," Perry said to a cheering crowd.
Perry said the label let her pursue her own artistic vision and make the kind of music she wanted to make.
"Capitol gave me the reins instead of pressuring me to be a carbon copy of whatever was trending at the time," Perry said.
In addition to the star unveiling, the celebration includes vinyl reissues of 75 albums, the release of a book of history on the record label and the development of a documentary series featuring episodes directed by past and present Capitol Records artists.
Also to mark the anniversary, the spire atop the tower, which has always emitted "Hollywood" in Morse code, will change its signal Tuesday night to spell out "Capitol 75." The new signal will be sent out for the next year.
The vinyl reissue program will include 75 albums chosen by a panel of music journalists, authors and artists, with the albums representing a variety of eras and musical styles.
The albums include "The Beatles," Frank Sinatra's "Come Fly With Me," Pink Floyd's "Dark Side of the Moon," Bobby Darin's "You're the Reason I'm Living," Tennessee Ernie Ford's "Sixteen Tons," Neil Diamond's "The Jazz Singer," Perry's "Teenage Dream," Bonnie Raitt's "Luck of the Draw" and Steve Miller Band's "Fly Like an Eagle."
City News Service contributed to this report.