Yes. 'Party Monster' is based on true events and real-life individuals. It attempts to portray those events and people as accurately as possible within the creative framework.
It's about a wild and hedonistic party scene that was based on real - life events. It likely involves excessive partying, unique characters, and the chaos that ensued in that real - life situation.
The 'Party Monster True Story' is about the wild and excessive party scene in a certain period. It involves the lives of party - goers, their hedonistic lifestyles, and the drama and chaos that often accompanied those parties.