We can thank CHICAGO for most every movie musical since then. CHICAGO's acclaim and financial success made Hollywood realize that the musical allows its A-listers to shine in a new way that can lure Oscar.
In the two years after CHICAGO won its many awards, studios were grabbing the rights to musicals left and right. Off the top of my head, I can remember PIPPIN, CAROUSEL, DAMN YANKEES, CABARET, GUYS & DOLLS, BYE BYE BIRDIE, and FIDDLER ON THE ROOF all being snatched up. Studios also added to their plate original musicals, such as BOB - THE MUSICAL. Many of these projects fell through with the collapse of Miramax and the failures of RENT and THE PRODUCERS. Both of those films were expected to come out triumphant. Oscar buzz stormed over those two project before they even began shooting. After the box office disappointments, studios became weary of their musical properties and shelved most of those projects.
Cameron Mackintosh was able to get THE PHANTOM OF THE OPERA and LES MISERABLES done. Rob Marshall, in hopes he would supply another CHICAGO, got NINE greenlit. And Bill Condon thankfully brought us DREAMGIRLS.
It is exciting to have many new movie musicals on the horizon. I wish them all applause and success, because if these tank, we probably will not see any more for many, many years.
"The Spectacle has, indeed, an emotional attraction of its own, but, of all the parts, it is the least artistic, and connected least with the art of poetry. For the power of Tragedy, we may be sure, is felt even apart from representation and actors. Besides, the production of spectacular effects depends more on the art of the stage machinist than on that of the poet."
--Aristotle