An accompanying music video, released simultaneously with the song, was directed by Carlos Perez and filmed in Los Angeles, California.

The video depicts Yatra and Martin gently grieve a detached love in a ruined factory, fronting a rock band and a group of masked dancers who do a choreography.

On March 3, 2019, Sebastián Yatra announced that his second studio album would be titled Fantasía and shared its artwork on social media.

"[1][2] Fantasía was released for digital download and streaming by Universal Music Latino on the specified date and a solo version of "Falta Amor" was included as the second track.

[3] In an interview with Billboard, Yatra chose seven key tracks from the album, including "Falta Amor", and explained the stories behind them.

Three days ahead of the album's release date, Martin wrote back to him and explained that he had been busy at the time, but he loved the song and hoped for a chance to record it together.

"[11] The re-made version was released as a single for digital download and streaming by Universal Music Latino on March 26, 2020,[12] almost six months after its recording.

[13] Lyrically, "Falta Amor", which translates to "Missing Love" in English, is about a man who had a good relationship with his partner, but she suddenly left him.

He described the song as "an intense ballad that does not lose its power neither in the musical nor in the lyrical plane", continuing by praising its verses for piercing the listeners' hearts and reflecting "the pain of a heartbreak that is difficult to overcome".

[13] Umberto Antonio Olivo from Periodico Daily complimented "Falta Amor", saying "two wonderful voices managed to convey a lot".

She also expressed her joy with the fact that people can "finally enjoy the talented voices" of Yatra and Martin "in a single song".

[22] Suzy Exposito from Rolling Stone labeled it "a soulful revamp" and "an evocative duet", saying Martin "tempers Yatra's heartache with his croon".

[9] An author of LatinPop Brasil added, "the new version of the hit" promotes "bringing more love to people, inspiring smiles and good vibes" during the pandemic.

"[24] Billboard reviewer Suzette Fernandez said Yatra and Martin joined forces "to revive romantic music with their heartbreaking ballad".

[30] It was also nominated for Best Pop Song at the 10th Annual Latino Show Music Awards,[31] but lost to "Los Besos" by Greeicy.

[35][36] On the US Latin Digital Song Sales chart, it peaked at number seven, becoming Yatra's sixth top 10 hit and Martin's 11th.

[7] The music video depicts Yatra and Martin gently mourn a broken love in an abandoned ruined industrial factory with an old piano and a burning car, fronting a rock band and a group of masked dancers who perform a choreography, writhing across a "wreckage".

Isai Reyes performed the track on the second season of American singing competition television series La Voz in 2020.