Released in 1976 with Rocky, the song became part of 1970s American popular culture after the film's main character and namesake Rocky Balboa as part of his daily training regimen runs up the 72 stone steps leading to the entrance of the Philadelphia Museum of Art in Philadelphia and raises his arms in a victory pose, while the song plays.

Most notably, the Philadelphia Eagles play the song before the opening kickoff of every home game at Lincoln Financial Field.

Gonna Fly Now (whose lyrics are only 30 words long) was nominated for Best Original Song at the 49th Academy Awards.

New York Times critic John Rockwell called it "a classic bit of movie-music pomposity" but said it had a "cheesy inspirational appeal.

Rocky IV was scored by Vince DiCola who mainly introduced new themes of his own but "Gonna Fly Now" returned with its composer for later installments.

Bill Conti's iconic dual introductory trumpet piece for the Rocky character (and the opening of Gonna Fly Now) was directly transferred from an anonymous 17th century sonatina written for use in the Italian royal dinner court.