Thanks for the great ideas so far.
I don’t know what’s wrong with me that I completely blanked on all the Tolkien references from Led Zeppelin
Bruce Springsteen “The Ghost of Tom Joad” was based on John Steinbeck’s The Grapes of Wrath.
Jefferson Airplane’s “White Rabbit” is filled with characters and images from Lewis Carroll’s Alice’s Adventures in Wonderland.
Almost all the songs on Pink Floyd’s Animals album (“Dogs,” “Pigs,” and “Sheep”) were inspired by Orwell’s*** Animal Farm.***
Van Halen’s “Women In Love” has no connection to D.H. Lawrence’s novel of the same title.
Bob Seger’s “Main Street” is not related to Sinclair Lewis’ novel of the same name.
John D. Loudermilk’s “Tobacco Road” (recorded by the Nashville Teens) has no connection to Erskine Caldwell’s novel.
Of course, Metallica’s “One” was a musical retelling of Dalton Trumbo’s anti-war novel and movie Johnny Got His Gun.
Bad Company named themselves and their first song after a Jeff Bridges Western called Bad Company.
TV Show:
Frank Zappa - “Conehead” - Saturday Night Live
Movie:
Bryan Ferry - “2HB” - Casablanca
Book:
Kate Bush - “Wuthering Heights” - Wuthering Heights
Cindy Brady (Have My Baby) by The Saddle Tramps
The writing of “The Rest Of Mine” from country singer Trace Adkins all began through the 1995 film named Phenomenon. 
God bless you and Trace always!!!
Holly (a day one fan of him)
Weird Al also has Ode to a Superhero, which is all about the first Raimi Spider-Man movie, sung to the tune of Piano Man by Billy Joel
The Dire Straits song Romeo and Juliet references West Side Story (" I forget the movie song "). Of course, it also references that play by Bill Shakespeare.
Nerf Herder has a song called Mr. Spock, which, of course is about the Enterprise’s first officer and mentions Captain Kirk as well.
Would you accept a song which was written for a movie, but doesn’t directly refer to the movie’s title? “Back In Time” by Huey Lewis & the News appeared in Back to the Future and the lyrics make references to things in the movie such as “Tell me Doctor, where are we going this time?” “Lightning never strikes twice,” and “Please don’t drive 88.”
Sting’s Bourbon Street was inspired by Interview with the Vampire.
Then there’s the Ballad of Bilbo Baggins, but I don’t know that we need another link to that.
“Key Largo” by Bertie Higgins strongly references the Bogart/Bacall movie of the same name, plus other Bogart films.
“Pretty Maids All in a Row” by the Eagles takes its title from a Roger Vadim movie.
Weird Al also recorded “Isle Thing,” a song about Gilligan’s Island. It was a parody of Tone Lōc’s “Wild Thing.”
Nerf Herder recorded a song called “She’s a Sleestak,” which references the creatures from “Land of the Lost.”
Phil Collins’ “Both Sides of the Story” is a musical re-telling of a major scene in Lawrence Kasdan’s movie Grand Canyon. In the movie, a black gang member who’s been menacing a stranded motorist (Kevin Kline) and a tow truck driver (Danny Glover) with a pistol observes, “No gun, no respect. That’s why I always got the gun.”
Star Trekkin’ by The Firm
As You Wish by Aqueduct consists almost entire of quotes from The Princess Bride.
Molly (16 Candles Down the Drain) by Sponge is named after Molly Ringwald, who starred in the movie Sixteen Candles. The song, however, isn’t about Molly Ringwald or the movie.