The album was produced and all songs were written by composer Angelo Badalamenti and film director David Lynch. Badalamenti composed the music, to which Lynch wrote the lyrics. Two singles were released from the album, "Falling" and "Rockin' Back Inside My Heart", which were also both featured in Lynch's television series, Twin Peaks. The instrumental version of "Falling" was used as the theme to the series.
The track "Mysteries of Love" was prominently featured in Lynch's 1986 film Blue Velvet. In addition to the two singles, a number of other tracks from Floating into the Night appeared in Twin Peaks, including "Into the Night", "The Nightingale" and "The World Spins". "The World Spins" was also featured on the soundtrack to the 2003 Robert Altman film, The Company.
Julee Cruise performs "Rockin' Back Inside My Heart", "Into the Night", "I Float Alone" and "The World Spins" in the 1990 David Lynch production Industrial Symphony No. 1.