The album was spawned by a larger-scale, 44-song project, Teargarden By Kaleidyscope, that the band had been issuing one track at a time. Oceania will be released by EMI.
Frontman Billy Corgan talked about the genesis of Oceania in an interview with Billboard.com in September 2011. “I reached a point where I saw that the one-song-at-a-time idea had maxed itself out,” he said. “I just saw that we weren't reaching the sort of casual person who still gets their information from traditional sources. So I thought, ‘What do I need to do?’ and then I thought, ‘OK, I’ll go back to making an album.’”
In subsequent interviews, Corgan insisted that Oceania was shaping up to be The Smashing Pumpkins’ best album since 1995’s Mellon Collie & the Infinite Sadness. In a prepared statement, EMI spokesperson Mike Harris said, “We are thrilled to extend the long-term partnership between The Smashing Pumpkins and EMI with the release of Oceania. Everybody at EMI is looking forward to working closely with Billy and the band to help them deliver their vision and their music to fans around the world.”