Produced by The Cataracs, "I'm On It" is the new single from 50 Cent, the second to be lifted from his new album. Fiddy's fifth studio album is scheduled for a November 2011 release; sessions for the LP include guest appearances from Busta Rhymes, Eminem, Lloyd Banks, Tony Yayo, Lil' Kim, Kanyé West, Kidd Kidd, Snoop Dogg, Swizz Beatz and Chris Brown. The as-of-yet untitled album replaces 50's scrapped experimental LP "Black Magic" which featured forays into dance and rock music.
Following "I'm On It"'s leak on the internet, 50 blamed Interscope Records and retaliated by briefly cancelling the album and threatening to leak Dr Dre's upcoming single "The Pyscho", on which he is featured. He has since retracted these statements and apologized to both Dr Dre and Jimmy Iovine, head of Interscope.