It is based on the play The Tempest by William Shakespeare. Similar in structure to Tchaikovsky's better-known Romeo and Juliet fantasy-overture, it contains themes depicting the stillness of the ship at sea, the grotesque nature of Caliban, and the love between Ferdinand and Miranda. The love music is particularly strong, being reminiscent of the love music from Romeo and Juliet.
Tchaikovsky was much influenced by Shakespeare: in addition to Romeo and Juliet and The Tempest, he also wrote a Hamlet overture-fantasy (1888) and incidental music to Hamlet (1891).