The song's lyrics refer to Bowie's criticism of a homogenized American culture invading other countries such as when American corporate entities like Disney World and McDonalds had begun operation in foreign nations. Bowie felt this diminished the unique character of distinct indigenous cultures.
Nine Inch Nails singer Trent Reznor, who appears as the character "Johnny," considered David Bowie a major influence on his music. The two previously toured together in 1995. Reznor created the remix of the song featured in the music video, and would later perform this arrangement of the song in 2009 with his own live band.
The music video is inspired by Martin Scorsese's 1976 film Taxi Driver.
The success of the music video made the song a staple of Bowie's latter day concerts, including his final tour in 2003-2004.
The song was the final charting single for Bowie until 2016 following his death.