The Rolling Stones' 1974 album It's Only Rock 'n Roll marked a transitional moment for the band, arriving during a period of change after their acclaimed run of four albums from Beggars Banquet (1968) to Exile on Main St. (1972). Following the comparatively less inspired Goat's Head Soup in 1973, Mick Jagger and Keith Richards dropped producer Jimmy Miller to self-produce under the pseudonym "The Glimmer Twins", and the record proved to be guitarist Mick Taylor's swansong with the group, ending an era before Ronnie Wood's arrival.

The title track originated from a jam session between Jagger and members of the Faces, including Wood, while the rest of the album—recorded after a 1973 tour—explored reggae, country and funk, and featured a cover of The Temptations' "Ain't Too Proud to Beg". Taylor delivered a standout guitar performance on "Time Waits for No One", but growing frustration over a lack of songwriting credit, combined with unease about the band's lifestyle, led him to leave afterwards. The Stones took a further album, Black and Blue (1976), to settle on Ronnie Wood as his replacement.