I admit, this one was a bit tricky, since it more or less referenced to a reference, which is once again The Phantom of the Opera.

Both in Gaston Leroux' novel and in the Lon-Chaney-movie, there's a big masked ball taking place, at which the Phantom appears disguised as Red Death. In case of Death and Maiden, it is reversed - Death disguises himself as the Phantom.
In the novel as well as in the movie, the Phantom wants to blow up the opera house by igniting a big amount of explosives he has stored in the basement. Which is the same place where my tragedy originates (although it is not dynamite that causes the mayhem).

The only real reference to the Roger-Corman-movie (starring Vincent Price) is the fact, that an exuberant festivity ends up as a massacre.