Rock opera version of The Phantom of the Opera with elements of the legend of Faust. Evil record producer Swan steals both the music and the girl (Phoenix) from composer Winslow Leach. Disfigured, Leach plans revenge on Swan and his rock palace, The Paradise, and becomes The Phantom. Leach signs a contract with Swan to complete his rock opera based on the life of Faust for Phoenix. Doublecrossed by Swan, who hires glam rock singer Beef as the lead singer, Leach exacts his vengeance.