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Irving Wallace is a serial killer and the main antagonist of Stage Fright. He was initially an actor who went berserk and had previously murdered seventeen victims before he was placed at a local psychiatric hospital while the court reviewed his case. Around this time, Wallace managed to escape from the hospital and sneaked inside a nearby theater, where the cast and crew rehearsing for a play locks themselves in the theater, unaware that they also locked Wallace inside with them.
Though it remains unknown as to how he had become insane, the doctor at the psychiatric hospital reveals about he was an actor who had turned berserk and murdered 16 people previously, chopping them mostly into bits. One of his victims was a 16-year-old girl who he had pinned her to the floor before cutted her into pieces. At the hospital, an actress named Alicia and a wardrobe mistress named Betty coming from a local theater nearby seek medical help for Alicia, in which has a sprained ankle. During this time, Irving Wallace had now been transferred to the hospital, and placed inside one of the cells. Without anyone seeing this, he breaks his straps restraining him to his bed. A curious Alicia walks to his cell door, where shes sees him raising himself up on his bed before she is treated for her ankle by one of the nearby doctors; the nearby doctor also explains to Alicia and Betty about how Irving Wallace had been transferred to the hospital just recently. As a hospital intern goes into Irving's cell, he renders his opponent unconscious by grabbing a needle off of a tray and sticking it into his neck, before placing the intern's body in the bed as he stealthily escaped into the backseat of Betty's car.
While Alicia and Betty return to the theater in which the cast and crew are rehearsing for a play about an owl-masked murderer, Irving gets out of the car's backseat and escapes just before Betty returns to her car to turn off the lights. Outside the theater and just before Betty heads back inside, Wallace murders her with a pickaxe by slamming it into her mouth before stealing the theater's key which she had on her. After this, he sneaks inside the theater and hides inside while Alicia goes out to discover Betty's body. From the cast and crew finding the body outside too, the police station a car outside the theater while the cast and crew return inside. They lock themselves inside the theater to focus on rehearsal with the promise of additional cash and one of the actresses named Corrine is told to hide the key, unknown to them that Irving has been locked in with them; during this time, Wallace dons himself new blue clothing and the crew's owl mask. One of the actresses Laurel is undressing inside the clothing room, where Irving spies on her and tries to get inside the room before then fleeing after she screams to get the attention of the crew. He also manages to knock out and kidnap Brett, an actor who plays the role of the play's owl-masked killer.(Work in progress)