Royalties from airplay and advertisements of "Walking on Sunshine" have been extremely high. Katrina and the Waves kept the publishing rights and the royalties that typically go to the songwriter have been divided among the band members.[clarification needed] Estimates are the song has earned $1 million per year for the ten years ending in 2010. According to a former employee of EMI, "Walking on Sunshine was the crown jewel in EMI's catalog," and that it was one of EMI's biggest earners from advertisers.
In late August and early September 2005, which marked the 20th anniversary of the song's release, the storm surge of a storm named Hurricane Katrina devastated much of the U.S. Gulf Coast, and the MSNBC program Countdown with Keith Olbermann dubbed its coverage of the storm, "Katrina and the Waves"; the name also appeared in numerous headlines and blog postings. A New York Times reporter contacted Katrina Leskanich, who said: "The first time I opened the paper and saw 'Katrina kills 9,' it was a bit of a shock. ... I hope that the true spirit of 'Walking on Sunshine' will prevail. I would hate for the title to be tinged with sadness, and I will have to do my own part to help turn that around." She also stated that she hoped that "Walking on Sunshine" would become an anthem for the Gulf Coast's recovery.
2010 was the 25th anniversary of the release of "Walking on Sunshine," and a series of back-catalog re-releases and a re-recorded version of the track were released at the time. A free download of one of the tracks from Kimberley Rew's solo album Bible of Bop was given away in March 2010 from the band's website.
In August 2015, which marked the 30th anniversary of the song's release, the song was acquired by BMG Rights Management for £10 million, along with all the other songs written by Kimberley Rew and Katrina and the Waves.
The music video opens with a Docklands alley, the Waves huddling whilst Katrina dances about above them. The video proceeds to depict the band performing live at a United Kingdom concert. Katrina herself is either with or not with them, but either dancing in a disused Docklands warehouse, or walking through Hyde Park on a cloudy day, past a churchyard, Tower Bridge, and the south bank of the Thames. She catches up with the others and feeds ducks (one of them eats the leftovers, referring to the Waves). The four all repair to a backstage dressing room and prepare for a concert.
In 1996, Dolly Parton included a bluegrass version of "Walking on Sunshine" on her album of covers, Treasures, stating in interviews to promote the album, as well as her CBS TV special to promote the album, that she had long loved the song. In 1997, a dance remix of Parton's version was released.
^Eder, Bruce. "Katrina & the Waves – Artist Biography". AllMusic. Retrieved 24 January 2017. It peaked at number 28 in England and number 25 in America (the highest chart placement up to that time by any ex-member of the Soft Boys), and yielded the Top Ten U.S./U.K. hit "Walking on Sunshine," one of the more memorable pop/rock songs of the decade.