RCA met with the film's music supervisor Karyn Rachtman, and Stiller, three weeks into filming, to discuss the soundtrack album. They finalized a deal and the label opened its roster to the director, who picked only one band: Me Phi Me. RCA aggressively marketed the album and had five tracks on rotation on radio and MTV. The video for Crowded House's "Locked Out" was updated to include footage from the film. In addition, the video for "Spin the Bottle" by the Juliana Hatfield Three was directed by Stiller and featured clips from the film as well. The soundtrack sold 1.2 million units and reached #13 on the Billboard 200. The album also earned a no. 1 single with Lisa Loeb's "Stay (I Missed You)".
The film's soundtrack includes songs by World Party, Squeeze, The Knack (a remixed version of "My Sharona" featured prominently in one scene from the film), Juliana Hatfield, Social Distortion, and two contributions from Crowded House ("Locked Out" and "Something So Strong"), in addition to the runaway hit "Stay (I Missed You)" by Lisa Loeb, which earned Loeb the distinction of being the first artist to top the Hot 100 before being signed to any record label. It also includes "Conjunction Junction" from Schoolhouse Rock!, another song brought into the foreground of a film full of pop culture references.
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