Extravagance on the Broadway stage can be summed up in just one image — the enormous gilt chandelier that hangs over the audience’s heads every night at the Majestic Theatre as the Phantom of the Opera sings to his angel of music. And every night for the past 25 years, it falls and crashes on the stage.

The first time this happened in 1988, it was a revelation. The entire production was seen as the epitome of theater, heralded as breathtaking and groundbreaking. It was melodrama at its absolute best. For audiences of the time, there could be nothing better than watching the Phantom — or his two body doubles — lure Christine to his dimly lit lair while accompanied by an orchestra of synthesizers.

But, in 2013, those synthesizers are outdated, along with the rest of the show. While tourists and die-hard Andrew Lloyd Webber fans will still fill the Majestic, it is not uncommon to see people roll their eyes when “Phantom” is mentioned — and it makes sense. This type of extravagance characterized the Broadway of the ’80s and early ’90s — think of the helicopter in “Miss Saigon.”

“Rent” ushered in a new form of extravagance in the world of musical theater and was a show most current-generation college students knew about while growing up. Unlike “Phantom,” there was no chandelier, pyrotechnics nor beautiful costumes. This was a musical that was unrestrained in its lack of opulence. Its subject matter, the AIDS crisis, was gritty. The costumes looked like street clothes and the set was almost spartan in its barrenness. The music itself was extravagant, although in a different manner than Webber’s. While Christine was hitting high Cs, Rentheads were memorizing the complex rhythms and list-like lyrics of composer Jonathan Larson’s music. In short, “Rent” was edgy, cool and understated — everything “Phantom” was not.

These two shows are arguably the most popular musicals of the past 30 years and their influence is nearly immeasurable. But their success and their differences, in terms of extravagance, have created a strict dichotomy since their premieres.

Now on Broadway, shows either go over the top, such as “Kinky Boots,” or deliberately scale back, like “Spring Awakening.” It seems plays are all-or-nothing in terms of extravagance. We either see jeans, a bare stage and LED lights or opera masks, fog machines and chandeliers. Take your pick.

A version of this article appeared in the Thursday, Dec. 5 print edition. Dylan Jarrett is books/theater editor. Email her at [email protected].