[1] On top of its film festival runs (and subsequent popularity online), the short has also appeared on Adult Swim and MTV in the US and on a number of international TV broadcasts around the world.

Hertzfeldt has noted that the short's international popularity is likely because it has no dialogue and plays like a silent film.

There have been many interpretations on what themes the short represents, but Hertzfeldt intentionally avoids talking about them so as to not invalidate the personal experiences the audience has with the film.

Special features included original pencil tests, production sketches, notes, and deleted ideas from the film.

In 2015, Billy's Balloon was remastered again for inclusion on the It's Such a Beautiful Day Blu-ray.