The Preston and Wyre Railway was promoted to open up agricultural land in the Fylde in Lancashire, access a new port at what became Fleetwood and the Lancaster Canal at Preston: it opened in 1840. An associated company built the dock leading to the company changing its name to the Preston and Wyre Railway, Harbour and Dock Company. Passenger business was more buoyant than expected, and the company built branch lines to the nascent resort of Blackpool and Lytham that opened in 1846. At that time the line was leased by the Lancashire and Yorkshire Railway and later the London and North Western Railway took a share in the lease which was later converted to outright ownership. The Preston and Wyre Railway continued to be jointly owned as the Preston and Wyre Joint Railway.
The Blackpool and Lytham Railway built a line without making any junction with the Preston and Wyre railway in 1863. In 1871 it was taken into the Preston and Wyre group. Passenger traffic in connection with steamer sailings at Fleetwood continued throughout the 19th century and fishing was important but the huge expansion of Blackpool as a holiday and trippers' destination dominated the P&WR network. There were massive peak flows of traffic on summer Saturdays to and from the industrial towns of Lancashire, Yorkshire and elsewhere. The railway carried local pleasure journeys by holidaymakers during their stay, and Blackpool to Fleetwood was a prominent route, served by a frequent railmotor service in the early 20th century.
After 1960 the railways' near-monopoly of passenger transport to Blackpool declined steeply, and Blackpool Central station was closed and the site sold for development. A revival started in 2018 when electrification of the Blackpool North line brought through trains to and from London and Manchester Airport.