A total of 41 songs were licensed for use in the film. The soundtrack includes 14 songs and was released on April 1, 2009 by Hollywood Records. The songs included are mostly from the 1980s, to fit with the setting of the film, with several tracks from the late 1960s and early 1970s, most notably by The Velvet Underground, Lou Reed, the New York Dolls and cult darlings Big Star. The '80s bands represent a cross section of alternative bands from the time including Hüsker Dü, The Jesus and Mary Chain, Nick Lowe, The Cure, The Replacements, and Crowded House.
The film maintains a notable reverence for Lou Reed, who is idolized by the main character, featured on T-shirts and posters of other cast members and has likewise elevated the status of the playground mechanic stemming from a rumored jam session with the artist. Earlier versions of the script replaced Lou Reed with singer-songwriter Neil Young as the musician Ryan Reynolds's character had played with, and used Young's songs "Everybody Knows This Is Nowhere" and "Hey Hey, My My (Into The Black)" in key scenes.
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