Departing from the mainly upbeat pop production of its predecessors, Folklore consists of mellow ballads driven by neo-classical instruments, pursuing indie folk, alternative rock, and electro-acoustic styles. Influenced by loneliness during quarantine, Swift explores themes of escapism, empathy, nostalgia and romanticism in the album, using a set of characters, fictional narratives, and story arcs, in contrast to the autobiographical tone of her previous projects. The title was inspired by the lasting legacy of folk songs, whereas its visual aesthetic reflects cottagecore.
Upon release, Folklore broke the record for the biggest opening day on Spotify for an album by a female act.Three of its tracks, "Cardigan", "The 1", and "Exile" featuring Bon Iver, reached the top 10 on music charts in eight countries, with the former becoming Swift's sixth number-one single on the US Billboard Hot 100. Folklore topped the charts in various countries and is certified platinum or higher in Australia, Denmark, New Zealand, Norway, the United Kingdom, and the United States. It was Swift's seventh number-one album on the US Billboard 200, where it reigned atop for eight weeks and became the best-selling album of 2020.