The actress Rebecca De Mornay, who dated Cohen in the early 1990s, was credited as a co-producer of the album along with Cohen himself. The album includes Cohen's covers of the Irving Berlin song "Always" and the Frederick Knight song "Be For Real." The Future is also the only Leonard Cohen studio album to include an instrumental Cohen composition ("Tacoma Trailer").
The album charted as high as #36 in the U.K. and was phenomenally successful in Canada, going gold, platinum, and double-platinum. Cohen also won the Canadian Juno Award for Best Male Vocalist in 1993 for The Future. In his acceptance speech, he quipped, "Only in Canada could somebody with a voice like mine win Vocalist of the Year." The music video for Cohen's song "Closing Time" also won the Juno Award for Best Music Video in 1993.
A cover version of "Light as The Breeze" by Billy Joel appears on the tribute album "Tower of Song: The Songs of Leonard Cohen" released in 1995. Leonard Cohen acknowledged the version as better than his original one. Billy Joel included his version on his compilation "Billy Joel Greatest Hits volume III" in 1997.