Ferrell performs on five other collaborations on the soundtrack, including "Happy," a cover of Pharrell Williams' 10-week 2014 Billboard Hot 100 No. 1.
"Husavik" was co-written by Fat Max Gsus, Rickard Goransson (the guitarist for Carolina Liar) and Savan Kotecha, who has penned songs for artists including Ariana Grande, Maroon 5, Katy Perry, Usher and The Weeknd.
In the movie, Ferrell and Rachel McAdams' characters perform the song, although Swedish singer My Marianne (real name: Molly Sanden) sings in place of Adams. For the song's recording, Sanden's vocals were mixed with McAdams'.
"Husavik" is named after a small town in northern Iceland where Ferrell's character in the film grew up. Ferrell portrays Lars Erickssong, who aspires to win the Eurovision Song Contest, the annual international singing competition. The 2020 edition was slated to be held in Rotterdam in The Netherlands but, due to the COVID-19 pandemic, was rescheduled for 2021.
This isn't the first Ferrell movie whose soundtrack has hit the Billboard 200. The musical companions for the following films in which he's starred have also charted: Curious George (No. 1, 2006), Austin Powers: The Spy Who Shagged Me (No. 5, 1999), The Lego Movie (No. 37, 2014), Elf (No. 81, 2011), Zoolander (No. 82, 2001), A Night at the Roxbury (No. 95, 1998), The Lego Movie 2: The Second Part (No. 169, 2019), Austin Powers: International Man of Mystery (No. 184, 1997) and Anchorman: The Legend of Ron Burgundy (No. 187, 2004).