Megaphone Limited was a sublabel of Jason Willett's Megaphone Records in Baltimore, Maryland, which released twenty CD albums between 1994 and 1998. Each edition was limited to 500 copies and came with handmade artwork. The sublabel's roster featured various Jason Willett bands and formations, primarily recorded at his Megaphone Studio, at the time located in Martha Colburn's 5,000 ft²-warehouse in downtown Baltimore. According to Benb Gallaher, Martha likely initiated the Megaphone Limited series; she also designed most releases. Jason and Martha played together as The Dramatics duo, and their debut self-titled album inaugurated Megaphone Limited, followed by 5612688 (MEGA LTD 008) and 6720728 (MEGA LTD 014) in 1995.
In 2008, Willett released 3316125 on Baltimore-based label MT6 Records, a CD compilation of rare tracks and unreleased material by Megaphone Limited artists.