Pennywise is a Californian punk rock band from Hermosa Beach, California, formed in 1988. The name is derived from the monster, It, from the Stephen King novel of the same title. Between their 1991 self-titled debut and 2005's The Fuse, Pennywise had released an album every two years on Epitaph Records, a label owned by Bad Religion guitarist Brett Gurewitz. To date, the band has released nine full-length studio albums (the last being 2008's Reason to Believe), one live album, two EPs and one DVD. Although their first two studio albums were critically acclaimed, Pennywise would not experience worldwide commercial success until the 1995 release of their third studio album, About Time, which peaked at number ninety-six on the Billboard 200, and number fifty-five on Australia's ARIA Charts. The band's mainstream success was signified by a growing interest in punk rock during the 1990s, along with fellow California bands NOFX, Rancid, Blink-182, Bad Religion, Green Day, The Offspring and Sublime (unlike the last five bands, however, Pennywise refused to sign with a major label). By 2007, the band had independently sold over 3 million records worldwide, making them one of the most successful independent punk acts of all time.