One Song was initially streamed as a video only on Love4OneAnother.com beginning 1 January 2000, directly following the pay-per-view broadcast of Rave Un2 the Year 2000 (replacing all other content on the site; see One Song for more details). The following year, the video was released for download as part of NPG Music Club Edition # 6. Both versions include an introductory monologue lasting around 5:50, reflecting 's spiritual beliefs, before the song itself begins. No audio version of the track has been released.
While specific recording dates are not known, basic tracking is believed to have taken place in late 1999 at Paisley Park Studios in Chanhassen, Minnesota. It is not known if the song was intended for any project beyond introducing the new millennium.