In Paris in the 1880s, the Palais Garnier opera house is believed to be haunted by an entity known as the Phantom of the Opera, or simply the Opera Ghost. A stagehand named Joseph Buquet is found hanged and the rope around his neck goes missing. At a gala performance for the retirement of the opera house's two managers, a young little-known Swedish soprano, Christine Daaé, is called upon to sing in the place of the Opera's leading soprano, Carlotta, who is ill, and her performance is an astonishing success. The Vicomte Raoul de Chagny, who was present at the performance, recognizes her as his childhood playmate and recalls his love for her. He attempts to visit her backstage, where he hears a man complimenting her from inside her dressing room. He investigates the room once Christine leaves, only to find it empty.
At Perros-Guirec, Christine meets with Raoul, who confronts her about the voice he heard in her room. Christine tells him she has been tutored by the Angel of Music, whom her father used to tell them about. When Raoul suggests that she might be the victim of a prank, she storms off. Christine visits her father's grave one night, where a mysterious figure appears and plays the violin for her. Raoul attempts to confront it but is attacked and knocked out in the process.
Back at the Palais Garnier, the new managers receive a letter from the Phantom demanding that they allow Christine to perform the lead role of Marguerite in Faust, and that box 5 be left empty for his use, lest they perform in a house with a curse on it. The managers ignore his demands as a prank, resulting in disastrous consequences: Carlotta ends up croaking like a toad, and the chandelier suddenly drops into the audience, killing a spectator. The Phantom, having abducted Christine from her dressing room, reveals himself as a deformed man called Erik. Erik intends to keep her in his lair with him for a few days, but she causes him to change his plans when she unmasks him and, to the horror of both, beholds his deformed face.
Fearing that she will leave him, he decides to keep her with him forever, but when Christine requests release after two weeks, he agrees on the condition that she wear his ring and be faithful to him. On the roof of the opera house, Christine tells Raoul about her abduction and makes Raoul promise to take her away to a place where Erik can never find her, even if she resists. Raoul tells Christine he will act on his promise the next day, to which she agrees. However, Christine sympathizes with Erik and decides to sing for him one last time as a means of saying goodbye. Unbeknownst to Christine and Raoul, Erik has been watching them and overheard their whole conversation.
The following night, the enraged and jealous Erik abducts Christine during a production of Faust and tries to force her to marry him. Raoul is led by a mysterious opera regular known as "The Persian" into Erik's secret lair deep in the bowels of the opera house, but they end up trapped in a mirrored room by Erik, who threatens that unless Christine agrees to marry him, he will kill them and everyone in the Opera House by using explosives. Christine agrees to marry Erik. Erik initially tries to drown Raoul and the Persian, using the water which would have been used to douse the explosives, but Christine begs and offers to be his bride, promising him not to kill herself after becoming his bride, as she had both contemplated and attempted earlier in the book. Erik eventually releases Raoul and the Persian from his torture chamber.
When Erik is alone with Christine, he lifts his mask to kiss her on her forehead and is given a kiss back. Erik reveals that he has never received a kiss, not even from his own mother, nor has been allowed to give one and is overcome with emotion. He and Christine then cry together. Erik later says that he has never felt so close to another human being. He allows the Persian and Raoul to escape, though not before making Christine promise that she will visit him on his death day, and return the gold ring he gave her. He also makes the Persian promise that afterward he will go to the newspaper and report his death, as he will die soon and will die "of love". Indeed, sometime later Christine returns to Erik's lair, buries him somewhere he will never be found (by Erik's request) and returns the gold ring. Afterward, a local newspaper runs the simple note: "The phantom is dead.” Christine and Raoul (who finds out that Erik has killed his older brother) elope together, never to return.
Alicia Vikander as Christine Daaé
Eddie Redmayne as Vicomte Raoul de Chagny
Rufus Sewell as Erik/The Phantom of the Opera
Dev Patel as the persian
Julianne moore as Madame Giry
Anna Kendrick as Meg Giry
Kristin Chenoweth as Carlotta Guidicelli
Patrick stewart as monsieur andre Poligny
Hugh Jackman as Comte Phillipe de Chagny
Samantha Barks as little Jammes
Alfie Boe as Joseph buquet