Something that has been played, listened to, or talked about so much to the point where the object becomes unbearable and the general public begins to build a collective hatred for the poor thing. This usually happens to really good YouTube videos, Vines, or songs that go viral; however this can happen to many other things ranging from memes to people.
Example 1-
Radio: "I've never seen a diamond in the flesh. I cut my teeth on wedding rings in..."
Girl 1: "Ugh, Royals is playing, that song is so overexposed. Is there a volume lower than mute!"
Girl 2: What I love Royals! The message is so good and her tone of voice is amazing."
Girl 1: "I love it too, but I swear if I hear that song again I'll kill the first thing I see."

Example 2-
Guy 1: "Oppan Gangnam Style... Gangnam Style..."
Girl 1: "Seriously... That song needs to stay dead. #overexposed"
Guy 1: "Well, sorry..."
by RealSh*t December 21, 2013