The Greatest Showman is a 2017 American musical film directed by Michael Gracey in his directorial debut, written by Jenny Bicks and Bill Condon and starring Hugh Jackman, Zac Efron, Michelle Williams, Rebecca Ferguson, and Zendaya. The film is inspired by the story of P.T. Barnum's creation of the Barnum & Bailey Circus and the lives of its star attractions.

Is the following statement correct based on the text

is the greatest showman based in a true story
yes