Now That's What I Call Music! 38 was released on May 3, 2011. The album is the thirty-eighth edition of the (U.S.) Now series. It peaked at number 1, 3, 4, 6, 7 and 14 on the Billboard 200 and has been certified 2x Platinum by the RIAA. The compilation includes six songs which reached the Billboard Hot 100: "Born This Way", "S&M", "Hold It Against Me", "Grenade", "E.T.", and "Rolling in the Deep".
The cover is inspired by the NOW 78 UK cover released in the same year.