David Fincher was originally set to direct the video, but left the project when Propaganda Films would not approve his $1.7 million project. Michael Bay, who Fincher had feuded with on several occasions in their days directing music videos, took over the job on a $750,000 budget, less than half of Fincher's desired price, and directed the other videos from Meat Loaf's Bat Out of Hell II album. Fincher eventually worked with Meat Loaf on Fight Club (1999).
The last six verses features a female singer who was credited only as "Mrs. Loud" in the album notes. She was later identified as Lorraine Crosby. The actress in the video, Dana Patrick, is making lip-sync to Crosby's vocals. According to Patrick, she received several offers for record deals after the video aired from executives who assumed she was actually singing in the video.
Contrary to popular belief, there is no one single "that" in the song that the singer will not do for love. Rather it is several things mentioned throughout the song, they include: "But I'll never forget the way you feel right now" (Intro), "But I'll never forgive myself if we don't go all the way, tonight." (First Chorus), "But I'll never do it better than I do it with you." (Second Chorus), "But I'll never stop dreaming of you every night of my life." (Verse 3). During the finale the female singer asks if the main singer will ever leave her or cheat on her, to which he responds "I won't do that." twice. This brings the total to six things the singer won't do for love.
The single was certified platinum in the United States and became Meat Loaf's first and only number-one single on the Billboard Hot 100 chart.
It was the best-selling single of 1993 in the United Kingdom.