The song was released on 21 October 1991 through Creation Records, as the second single from the band's third studio album Bandwagonesque.

He remembered that much of Bandwagonesque contained lyrics written in an impromptu manner, and that his only goal with "The Concept" was to "write something with a narrative.

[5] Martin Horsfield at The Guardian ranked it as the band's second-best song, calling it "equal parts bubblegum and Big Star, and with an extended guitar coda for anyone pining for [their former] grungy sound.

"[7] James Cosby at PopMatters placed it higher at number two, calling it the group's "de facto anthem.

"[4] Pitchfork said, "By the fist-pumping coda—a marvel of searing guitars, bombastic drums, and wistful three-part harmonies—it's clear that frontman Norman Blake isn't in love with the girl so much as he relishes the idea of being in the band onstage, basking in the glow of raised lighters.