The album was released amid the Plano Collor economic crisis and an alcoholism peak of vocalist, acoustic guitarist and leader Renato Russo, who had also just discovered to be HIV-positive – a condition he kept as a secret from most people back then. It sold around 465,000 copies.
The album was released as then Brazilian president Fernando Collor was implementing the measures of his Plano Collor, which limited citizens’ financial power. The band was still touring for their previous album, As Quatro Estações, and the shows became even more important in order to allow them to retrieve the money they lost.
Meanwhile, Russo went to rehab, concerned with the example he was setting to his son Giuliano, born in 1989. There, he discovered he had the HIV virus. That prompted him to meet with the band’s manager Rafael Borges and ask him to arrange everything after his death.
Aside from these two problems, the band experienced conflicts with Jorge Davidson, national artistic manager of p. It all started when Davidson insisted that they recorded one of their shows of the As Quatro Estações tour. When he finally got what he wanted, Borges asked him to send the material to PolyGram, where the band’s longtime producer, Mayrton Bahia, was working. Davidson refused stating the band never cared about EMI’s material, which made Russo furious. Davidson ended up not effectively participating in the album, despite being credit as artistic manager. Later, working for Sony Music, Davidson said he understood Russo’s frustration. Having just been diagnosed as HIV-positive, Russo didn’t know if he would live to see a live album by his band.
Working for a rival label, Bahia wasn’t expected to produce V, but Russo still invited him after meeting him by chance at a Fernanda Abreu show.
For the first time, the band did not use EMI-Oden studios to create the album. They opted for Estúdio Mega, instead. The studio was also located in Rio de Janeiro and, unlike in EMI’s one, they weren’t able to stay there for as long as they wanted, nor did they have exclusive use of it. They hired a session bassist, Bruno Araújo, who was already performing live with them. However, he wouldn’t perform in the subsequent tour due to a fight with session acoustic guitarist Fred Nascimento. They were both close, but the fall out cost their jobs as Legião Urbana’s session members.
It was on this album that Bahia managed to convinced Russo to switch his Roland Juno-106 keyboard for other models, in order to create new sounds.