As Monsieurs Richard and Moncharmin prepare to take over as acting managers of the Opera House, they discover their predecessors have bequeathed them the 'Opera Ghost'. A separate memorandum-book has been set aside for his various
whims, including extravagant financial needs. Heedless of the numerous warnings to comply with these strange demands the managers shrug it all off as a practical joke taken too far. Then a sequence of eerie coincidences and tragic events follow,
culminating in the sudden disappearance of the beautiful prima donna Christine Daae in mid-performance.

Tortured by the pangs of unrequited love, the mysterious figure living beneath the Opera House has been awaiting his chance to strike - and once he does, he is deadly …