The song was originally acoustic guitar-based and released digitally as a single in the United States in April 2015 before being remixed a few months later by Norwegian production duo Seeb.

The title references the Spanish island of Ibiza, while the pill was a "mystery" drug according to Posner; he later confirmed it was MDMA.

[1] The SeeB remix of the song peaked within the top ten of the charts in twenty-seven countries, including number one in Belgium, Israel, Netherlands, Norway, the Republic of Ireland, and the United Kingdom.

[3]The song presents a self reflection by Posner on how, his fame having long since faded, he has been left completely empty inside and unable to feel any kind of fulfillment, causing him to attempt to fill the void with rampant hedonism and material possessions.

[8] SeeB's remix is a tropical house song,[9] and is written in the key of G minor in half time with a faster tempo of 102 beats per minute.

That's due in part to the power of SeeB's buoyant, tropical house-flavored remix, but the cautionary tale of post-fame and excess drives it home, even as it ironically became Posner’s biggest hit yet.

"[12] Time was more negative toward the remix, stating, "Originally conceived as a folksy pop song in the vein of Jason Mraz, there was something clever about Posner's withering takedown of drug-taking EDM bro culture.

English singer Tom Odell performed a cover of the song on BBC Radio 1's Live Lounge, which received very good feedback from fans and critics.

It features Posner taking an unknown pill which transforms his face into a smiling papier-mâchéd mask representing himself.

The music video was shot in Bateman's Buildings in London, an alleyway to the south of Soho Square Gardens, just off Oxford Street.

[16] In 2016, British Jazz musician Jamie Cullum published a piano/bass/drums version of the Seeb remix as the sixth entry in his pop covers project The Song Society.

According to Cullum, the trio learnt and recorded the song live "within 20 minutes", taking it "somewhere between the original acoustic version and the Seeb remix".