• by Karlene Lukovitz  @KLmarketdaily, March 16, 2009

After months of build-up, Coca-Cola has officially released its latest TV commercial, which has the distinction of being accompanied by a star-studded music single.

The single bears the name of the new Coke campaign, "Open Happiness," launched in January. In addition to serving as the theme track for the campaign's new commercial, the track is being sold on iTunes and heavily promoted on its own worldwide.

Co-produced by Coca-Cola and Warner Music, it features Gnarls Barkley's Cee-Lo, Patrick Stump from Fall Out Boy, Brendon Urie from Panic at the Disco, Travis McCoy from Gym Class Heroes and Grammy-nominated Janelle Monae.

The new commercial (30- and 45-second formats) is a third installment in the "Happiness Factory" series originally created in 2006 for Coke's previous campaign, "The Coke Side of Life." The award-winning Factory commercials were Coke's highest-rated ever. The new one, "Happiness Factory 3," shows the characters reviving a yawning worker with Coke and the peppy "Open Happiness" theme, which uses the same five-note melody featured in earlier Factory commercials.

In addition to being embedded in the TV commercial and available on iTunes (packaged with a "making of" video), the single is getting saturation promotion that includes a global premiere on MySpace; mentions on 200 million Coca-Cola packs in Great Britain and France; and a music video featuring the artists that will premiere globally in May.

The song was formally previewed during the music industry's Midem event in Cannes in January, and naturally also leaked out on the Web (Warner is squelching illegal uses).