I am going to rant about them, with lots of spoilers, below. Although really, "spoiler" is the wrong word, because the good things about them can't be ruined by revelation, and the story is already so execrable it can't be spoiled further.
I don't like the story of "Phantom": the title character is the only one with any personality to speak of, and he's a monster. He stalks the female protagonist, tries to control her, manipulates everyone, murders multiple people, and destroys the opera house and probably kills more people to cover for kidnapping her at the climax. And we're supposed to feel bad for him because he's been feared all his life for his scarred face but ... yeah. I am not really up to excusing murder because people are mean to you. Most of the people he kills weren't even directly mean to him. They're just random fellows who happened to be in the way at the time.
Anyway. Didn't really like any of the characters, and the plot often made no sense. For two examples: Carlotta, their diva, refuses to perform early on, so they have Christine fill her role. Everyone -- literally everyone -- is like "wow, Christine is so much better than Carlotta."
Next, the Phantom says "I want Christine in the leading role of the next production," and offers a vague threat if the new managers don't comply. Carlotta refuses to play the leading role in the next production. The managers proceed to beg Carlotta to perform, for no apparent reason except "cut off your nose to spite your face".
Second example: there's a scene where Raoul defeats the Phantom in a graveyard duel, and Christine says "don't kill him!" So Raoul walks off with Christine and makes no attempt to, oh, capture the murderer instead. Then, in the next scene, some weeks later, Raoul is plotting to ... capture the Phantom. Oooookay. Like you could've done that in the last scene but you decided to wait until now for drama, I guess.
Still, setting aside the cardboard characters and the incoherent plot, the film was an over-the-top spectacle: gorgeous sets, costuming, dance numbers, etc. The music is fantastic. I got a little bored in the middle as what passed for the story just dragged on and on and they ran out of new music, but the ending was touching.
I have seldom seen a story less in need of sequel, and "Love Never Dies" is definitely the sequel that "Phantom" didn't need. This was a recording of a stage show, and was, I gather, the sequel to the stage musical. It references key events that didn't happen in the film. Either that, or it's set in a Phantom AU, maybe one where he's not a murderer who intentionally destroyed the opera house. (The intro references him being "chased by an angry mob that regards him as being responsible for the opera fire", which made me say to Lut, "Perhaps because he was responsible for the fire?")
Regardless, it's set a decade after the opera house burned down. It's set in Coney Island, where the Phantom is running a creepy carnival-like show under the name of "Mister Y". The choreographer who was his friend in the "Phantom" runs the show, while her daughter Meg is one of the stars. Meg is forced to performs some mediocre musical numbers by way of making Christine look good, which is just depressing all around. The sets were lovely but the music was uniformly meh. I am not sure if the choreography was also meh, because the camera tended to focus on the protagonists whenever some big complex number was happening. So you didn't really get to see the complex numbers. In an effort to make Phantom look more like a romantic hero, the script turns Raoul into an emotionally abusive man who gambled away his fortune and put his family deep in debt. He resents his wife for having a valuable skill (singing) that might bail them out of his mess. OK, so now I hate Raoul AND the Phantom.
In case you might hope, "maybe the Phantom has matured in 10 years", NOPE. When Christine hesitates at his offer to hire her for a single song, he threatens to abduct (and possibly kill) her son if she won't perform for him.
Oh, and if you were thinking "how could I hate the men of this show more?" Ding! We have an answer! Phantom and Raoul make a wager: If Christine performs the song, Raoul will leave her alone forever. If Raoul talks her out of it, Phantom will pay Raoul's debts anyway, plus a bonus.
Neither man tells Christine about the wager, so Christine thinks she choosing to sing a song that will get her family out of debt and then she can get back to her life with her husband.
Oh, and stage manager + daughter are bitterly resentful of Christine because the Phantom is basically dumping everything they worked for into Christine's lap. In case you thought anything might end well for anyone or you were hoping for someone to like.
There is no possible resolution where anyone is happy, which is okay because no one really deserves to be happy. Christine randomly dies at the end. This is probably the best thing that could plausibly happen to her within the constraints of "things anyone who wrote the rest of this garbage fire would think of doing". At least she can't be tormented by the horrible men in her life any more.
If I were the sort to write fix-it fics, I would change the ending to: "Christine, stage manager, and daughter kick Raoul and the Phantom out of their lives, go on to run successful theatre without them." If it needs romance, well, Christine and Meg will make a cute couple. Fin.