I won't rehash the plot of the movie here-- if you've come to this page looking for the film, you already know the plot. Billy Zane is great as The Phantom and Treat Williams gives a great performance as the ruthless villain Xander Drax. The real value here is the superb picture quality on this Blu-ray disc-- it's outstanding! Colors are bright without being garishly oversaturated and blacks are nice and inky. It's certainly an improvement over the DVD and well worth the $11.99 I paid for the disc. No special features, just the theatrical trailer-- a commentary by Billy Zane and/or director Simon Wincer would have been nice. If you have a Blu-ray player and like this movie, be sure to buy this Blu-ray!