The album was recorded in a much different way from Queen's other studio albums. In early 1991, having completed work on Innuendo, and some months before his death, Freddie Mercury recorded as many vocals as he could, with the instruction to the rest of the band (Brian May, Roger Taylor, and John Deacon) to complete the songs later. Put to tape during this time were primarily "A Winter's Tale", "Mother Love" and what would eventually become "You Don't Fool Me".

The album was recorded at various studios across a four-month period in 1975. Due to management issues, Queen received almost none of the money they earned for their previous albums. Subsequently, they ended their contract with Trident Studios and did not use their studios for their album (with the sole exception being "God Save the Queen", which was recorded the previous year). They employed a complex production that extensively used multitrack recording, and the songs incorporated a wide range of styles, such as ballads, music hall, dixieland, hard rock and progressive rock influences. Aside from their usual equipment, Queen also utilised a diverse range of instruments such as a double bass, harp, ukulele and more.
Upon release, the album topped the UK Albums Chart for four non-consecutive weeks. It peaked at number four on the US Billboard 200 chart and became the band's first Platinum-selling album in the US. The worldwide sales for the album are over six million copies. It also produced the band's most successful single in the UK, "Bohemian Rhapsody", which became their first UK number one and one of the best-selling singles in both the UK and the world.