Yep July 1989 and the writing was on the wall for the classic 80s sound. Compare that song with say Haircut 100 Fantastic Day or Howard Jones What is Love from earlier in the decade EDIT: just listened to it again and it is a really good track though
Personally, I feel 1989 heralded the start of Britpop in the UK with the arrival of the Stone Roses and 808 State in the autumn of that year, while from Seattle emerged grunge. It was a momentus year in many ways. The "Fall of the Berlin Wall" for starters.