While the film uses real historical figures like Toulouse-Lautrec and the actual location of the Moulin Rouge, it weaves a fantastical story around them. The main characters, Christian and Satine, and their love story are completely fictional.
The film takes inspiration from the Parisian bohemian culture and the glamour of the Moulin Rouge in the late 19th century, but ultimately creates a romantic, tragic, and highly stylized fictional narrative.