Purple Rain is the sixth studio album by American recording artist Prince and The Revolution and is the soundtrack album to the 1984 film of the same name.It was released on June 25, 1984 by Warner Bros. Records. Purple Rain is regularly ranked among the best albums in music history.Time magazine ranked it the 15th greatest album of all time in 1993, and it placed 18th on VH1 's Greatest Rock and Roll Albums of All Time countdown.urple Rain is regularly ranked among the best albums in music history. Time magazine ranked it the 15th greatest album of all time in 1993, and it placed 18th on VH1 's Greatest Rock and Roll Albums of All Time countdown.