Forget Joel Schumacher's meh-movie of it. Instead, check out Brian DePalma's wacky PHANTOM OF THE PARADISE, which is OPERA but set in a glam rock theater. Wacky but creative 70's work.

Of course the stage version is now the longest-running play in Broadway history. Funny story, but I remember going to London's "broadway", where a theater has held PHANTOM for decades, and people even refer to it as the "PHANTOM Theater". Too bad my tour group got screwed by going to see FAME instead.