A sequel, titled "The Phantom of the Opera 2: Terror in Manhattan", was planned, but never made. According to a 1991 article in Fangoria Magazine, the screenplay was re-written for Dance Macabre (1992), also starring Robert Englund.
During a scene with fire, hot wax fell on Jill Schoelen, and burned her arm and shoulder. Despite this incident, director Dwight H. Little convinced Schoelen to do two more takes in the fire.
Was supposed to be rated X by the MPAA due to several scenes of graphic violence, but eventually received an R after the filmmakers edited this down heavily.
The first version not to feature a falling chandelier. The chandelier scene was originally written in the first script by Gerry O'Hara. One of the reasons why this is the only Phantom film not to include that classic scene, is because Menahem Golan, CEO of 21st Century Film Corporation, who at the time had just resigned from The Cannon Group, Inc. in 1988 after that company's collapse, didn't have enough money to pay for an expensive chandelier to fall, and then to redo the scene take after take. Duke Sandefur then was hired to re-write the script without the scene.
The disclaimer at the end of the credits reads: "This Motion Picture is not associated with any current or prior stage play or motion picture of the same title."