It was written by the Buggles (Trevor Horn and Geoff Downes) in 1979, and reached number one in the UK that same year. However, by the time the video aired on MTV, the duo had broken up.
It is worth noting that the song would almost-certainly have faded into obscurity had MTV not chosen to use it first.
The song was also covered by the Presidents of the United States of America in 1998.