Background: Fred Astaire (born Frederick Austerlitz; May 10, 1899 - June 22, 1987) was an American dancer, singer, actor, choreographer and television presenter. He is widely regarded as one of the most influential dancers in the history of film and television musicals. His stage and subsequent film and television careers spanned a total of 76 years, during which he starred in more than 10 Broadway and London musicals, made 31 musical films, 4 television specials, and issued numerous recordings.
Context: Retirement didn't last long. Astaire returned to the big screen to replace the injured Kelly in Easter Parade (1948) opposite Judy Garland, Ann Miller, and Peter Lawford and for a final reunion with Rogers (replacing Judy Garland) in The Barkleys of Broadway (1949). Both of these films revived Astaire's popularity and in 1950 he starred in two musicals - one for M-G-M - Three Little Words with Vera-Ellen and Red Skelton and one on loan-out to Paramount - Let's Dance with Betty Hutton. While Three Little Words did quite well at the box office, Let's Dance was a financial disappointment. Royal Wedding (1951) with Jane Powell and Peter Lawford proved to be very successful, but The Belle of New York (1952) with Vera-Ellen was a critical and box-office disaster. The Band Wagon (1953), which is considered to be one of the finest musicals ever made, received rave reviews from critics and drew huge crowds. But because of its excessive cost, it failed to make a profit on its first release. Soon after, Astaire, along with all the other remaining stars at M-G-M, was let go from his contract because of the advent of television and the downsizing of film production. In 1954, Astaire was about to start work on a new musical, Daddy Long Legs (1955) with Leslie Caron at 20th Century Fox, when his wife Phyllis became ill and suddenly died of lung cancer. Astaire was so bereaved that he wanted to shut down the picture and offered to pay the production costs out of his own pocket. However, Johnny Mercer (the film's composer) and Fox studio executives convinced him that work would be the best thing for him at that time. When Daddy Long Legs was released in 1955, it did only moderately well at the box office. His next film for Paramount, Funny Face (1957), teamed him with Audrey Hepburn and Kay Thompson and despite the sumptuousness of the production and the strong reviews from critics, it failed to make back its cost. Similarly, Astaire's next project - his final musical at M-G-M, Silk Stockings (1957), in which he co-starred with Cyd Charisse, also lost money at the box office. As a result, Astaire withdrew from motion pictures for two years.  During 1952, Astaire recorded The Astaire Story, a four-volume album with a quintet led by Oscar Peterson. The album, produced by Norman Granz, provided a musical overview of Astaire's career. The Astaire Story later won the Grammy Hall of Fame Award in 1999, a special Grammy award to honor recordings that are at least twenty-five years old and that have "qualitative or historical significance."  His legacy at this point was 30 musical films in 25 years. Afterwards, Astaire announced that he was retiring from dancing in film to concentrate on dramatic acting, scoring rave reviews for the nuclear war drama On the Beach (1959).
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Astaire recorded The Astaire Story, a four-volume album with a quintet led by Oscar Peterson. The album, produced by Norman Granz,