A Million Dreams

Barnum's and his father Philo, a tailor, work for the Hallett family, and he becomes infatuated with their daughter, Charity

Come Alive

Barnum loses his job as a clerk at a shipping company after the company goes bankrupt Taking a risky bet, he takes out a large loan from a bank, deceiving the bank into accepting his former employer's lost ships as collateral

He uses this loan to buy Barnum's American Museum in downtown Manhattan, an attraction showcasing various wax models

Initially, sales are slow; on the suggestion of his children to showcase something "alive", Barnum searches for "freaks" to serve as performers for his museum

Carlyle is enchanted with Anne Wheeler, an African-American trapeze artist, but he hides his feelings.

During a trip Carlyle arranged for Barnum and his troupe to meet Queen Victoria, Barnum meets Jenny Lind, a famed Swedish singer, whom he convinces to perform in America, with him serving as her manager

Rewrite the Stars

Carlyle and Wheeler attend the theatre together one night, only to run into Carlyle's parents, who insult Wheeler's lowly status, causing her to leave

From Now On

Barnum returns home to find his circus on fire, caused by a fight between the protesters and the troupe. Most of the sets and props are destroyed.

Carlyle, who had tried to save Anne not knowing she had already escaped, is rescued amid the chaos by Barnum but suffers severe burns

Word of Lind's cancellation and Barnum's public intimacy also reaches New York, resulting in his mansion being foreclosed upon and Charity taking Caroline and Helen back to her parents' home.

Meanwhile, the injured Carlyle wakes in a hospital with Wheeler by his side and they share an intimate moment together.

Barnum leaves and finds his estranged wife, and they decide to mend their relationship.

Faced with the financial difficulty of rebuilding the circus, the recovering Carlyle steps in, offering to use his earnings from his share of the circus's profits to rebuild it under the condition of becoming partners, which Barnum happily accepts

As rebuilding the circus in its original location would be too expensive, Barnum rebuilds it as an open-air tent circus by the docks he new.

Revamped circus is a huge success, and Barnum gives full control of the show to Carlyle so he can focus on his family