Winslow Leach (William Finley), a young and talented composer who is betrayed by a powerful record producer named Swan (Paul Williams) and sent to prison for a crime he did not commit. After escaping from prison, Leach seeks revenge on Swan and his record label, Death Records.

Leach discovers that Swan has stolen his music and used it to create a new rock venue called the Paradise, where he plans to debut a new and revolutionary sound. To get his revenge, Leach becomes the Phantom, a masked figure who haunts the Paradise and terrorizes Swan's performers.

As the Phantom's reign of terror continues, he meets a young and beautiful singer named Phoenix (Jessica Harper) who he falls in love with. However, Swan also has his sights set on Phoenix and is determined to make her the star of his new show, "Faust."

As the Phantom battles Swan for control of the Paradise and for the love of Phoenix, the film becomes a twisted and dark exploration of the music industry and the price of fame. Featuring a rock-infused score by Paul Williams and stylish direction by Brian De Palma, Phantom of the Paradise has become a cult classic and a must-see for fans of horror, rock music, and 1970s cinema.