The story starts of by young Barnum and young Charity meeting each other. Barnum was often treated poorly because be was born in a poor family. But Charity was always treated well just because she was wealthy. When they saw each other they immediately fell in love and when they both grew up they got married and started a life together in new york.
Climax/Tightrope
This song reveals  that the inciting incident of that story is that Barnum’s business is  starting to become successful and he wants to encourage the unique individuals. being like show yourselves to the world and be brave.  Barnum plans to create a place for the unique individuals to show their talents no matter what they look like and he created a circus and people love the unique individuals and his business is starting to become successful.
Falling Action/From now on
This song contributes to the conflicts of the  story because that is when everything goes downhill for Barnum  he is mistreating is employees and puts them aside as if their freaks  and his business starting going down.
This song contributes to the climax of the story because charity is upset that Barnum is going on a world tour and that is making her feel lonely without him.  Also since he is becoming famous because of Jenny Lind and since he is going on the world tour with Jenny and leaving his family and the circus behind. Also the circus is not turning out well with out him and his family is feeling empty without him.
This song contributes to the theme or lesson of the story by say you should not be blinded my fame and money. It tells you to not let money and fame pull you away from your friends and family because in the end everyone will leave you if you continue. Also money and fame can't buy you happiness only family and friends can. 
Circus stands as a important event in the story because the circus is what Barnum’s dream was and because of that a lot of things happened in his life for example he also lost his relationship with his wife and he also lost his friends/employees. He went through tough times in life's while trying to make his circus successful all of this in his life happened because of the circus.