In 1870, the Paris Opera House is auctioning off props. An older man buys a monkey music box, while an repaired chandelier brings back memories of the opera house's past. Rehearsals are underway for the upcoming opera, but the lead diva storms off. Christine, one of the dancers, takes her place. Christine's childhood friend Raoul visits her, but she is locked in her room and hears singing. The Phantom, who trained Christine, lures her to his lair and expresses his feelings for her. However, things take a dark turn when he becomes vunerable and unmasks himself. Christine returns to the surface, and Andre and Firmin, the new owners, receive notes from the Phantom. They refuse to comply, but the Phantom disables Carlotta's voice, forcing them to put Christine in the lead role. While Christine is getting ready, the Phantom hangs Joseph and frightens Christine. Raoul comforts her on the roof and professes his love for her. Three months later, the Phantom interrupts a masquerade, presents the managers with his new opera, and gives them an ultimatum. Christine visits her father's grave, where the Phantom tries to lure her to him, but Raoul intervenes. The performance of the Phantom's opera begins, and Christine expresses her love for him on stage. Raoul realizes that Christine loves the Phantom, and the Phantom takes her back to his lair. The opera theatre catches on fire as the chandelier falls. The Phantom gives Christine his ring and asks her to stay with him, but Raoul arrives to save her. Christine decides to stay with the Phantom, but in a selfless act, he frees them both. The scene switches to 1919, where Raoul leaves the monkey music box on Christine's grave and finds a rose and the Phantom's ring. He realizes that Christine truly loved the Phantom.
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