The song was written after a trip to the movies by Buddy Holly, Jerry 
Allison and Sonny Curtis in June 1956. The John Wayne film The
Searchers was playing. Wayne’s frequently-used, catchphrase,
"that’ll be the day" inspired the young musicians. The song was
recorded eight months later, at the Norman Petty studios in Clovis,
New Mexico, on February 25, 1957, and was released  on Decca’s
Brunswick label. Producer Norman Petty credited The Crickets as
the artist to prevent possible legal action against Buddy do to a
contractual agreement with Decca.
 

 John Wayne from The Searchers