The legendary Bayreuth Centenary production of Wagner's Ring is distinguished by Patrice Chéreau's once-shocking production, which has acquired the status of the most trenchant modern interpretation of the cycle. Das Rheingold is the opening of the four Ring operas, setting the scene with the theft of the Rhine gold, first by Alberich and then by the giants on behalf of Wotan on a train of greed that will inexorably lead to the demise of the gods.

Die Walküre is the second of the four Ring operas, introducing Brünnhilde, daughter of the all-powerful god, Wotan. Brünnhilde's attempts to protect the siblings/lovers Siegmund and Sieglinde eventually lead Wotan to encircle his errant daughter with a protective ring of fire that only a hero will be able to penetrate. Die Walküre features the best-known excerpt from the Ring cycle, the Ride of the Valkyries.

Siegfried is the third of the four Ring operas, introducing the hero, Siegfried, son of the demi-gods Siegmund and Sieglinde. Though raised by the dwarf Mime, Siegfried discovers his true identity and forges the magic sword, Notung, with which he slays Mime and the dragon Fafner. He then defies the Wanderer (Wotan in disguise) and rescues the sleeping Brünnhilde from her circle of flames.

Before leaving in search of adventure, Siegfried gives the ring to Brunnhilde for safe-keeping as a symbol of their love. Soon he arrives at the hall of the Gibichungs. Alberich incites his son Hagen to help him regain the ring, which Hagen does with the unwitting aid of his half-brother and sister, Gunther and Gutrune. Hagen drugs Siegfried, causing him to forget his devotion to Brunnhilde, and he falls in love with Gutrune instead. Siegfried then tricks Brunnhilde and takes back the ring.