A forerunner of the American horror film, and one of the most lavish productions of the silent cinema, THE PHANTOM OF THE OPERA has inspired countless remakes and imitations. But none of its successors can rival the mesmerizing blend of romance and mystery that haunts every frame of the Lon Chaney original. This edition presents the 1929 theatrical version, restored from archival 35mm elements by Film Preservation Associates. It is highlighted by the Technicolor Bal Masque sequence (in which the Phantom interrupts the revelry wearing the scarlet robes of the Red Death), as well as meticulously hand-colored sequences (replicating the Handschiegl Color Process). The film is presented at two different historically-accurate projection speeds, each with two different soundtrack options. Also included is the 1925 theatrical version, which survives only in poor-quality prints, but contains scenes that were removed from the 1929 release version.

DISC 1
-Music composed and performed by Alloy Orchestra (2.0 stereo)
-Theatre organ score arranged and performed by Gaylord Carter (2.0 stereo)
-Musical setting composed by Gabriel Thibaudeau (2.0 stereo)
-Audio commentary by film historian Jon C. Mirsalis

DISC 2
-Alternate 1925 release version, featuring a musical setting arranged and performed by Frederick Hodges (2.0 stereo)
-Lengthy excerpts of the 1930 sound re-issue version (mono)
-Original screenplay
-Original theatrical trailer
-Interview with composer Gabriel Thibaudeau
-Two travel films capturing Paris in 1925: "Paris From a Motor" and "A Trip on the Seine"