One more thing. Every lyric and musical feature is important, of course. But like the first words of a book, the first words/music of a song are key to establishing characters, mood and direction.
Examples:
"Hey Jude, don't make it bad. Take a sad song and make it better."
Music: calm staying near tonic.
Interpretation: adult consoling a child.
- "Hey Jude", The Beatles
"Johnny's in the basement mixing up the medicine. I'm on the pavement thinking 'bout the government."
Music: rock with tension, dominant 7th.
Interpretation: person discussing or thinking about illicit activity.
- "Subterranean Homesick Blues", Bob Dylan
"Lazy old sun, what have you done to summertime? Hiding away behind all those misty thunder clouds?"
Music: bizarre chords and instrumentation.
Interpretation: depressed person daydreaming in sadness.
- "Lazy Old Sun", The Kinks
"There's a lady who's sure all that glitters is gold, and she's buying a stairway to heaven."
Music: mysterious echoey guitar and voice.
Interpretation: someone telling a story containing ancient wisdom.
- "Stairway To Heaven", Led Zeppelin
"Talk to me now I'm older, your friend told you 'cause I told her"
Music: fast driving music.
Interpretation: teenager talking to another teen.
- "12:51", The Strokes
"Elope with me Miss Private and we'll sail around the world. I will be your Ferdinand and you my wayward girl."
Music: folk guitar and mellow voice.
Interpretation: man singing to his girl, both educated.
- "Piazza, New York Catcher", Belle and Sebastian