It would always be a risk putting such a gossamer Christmas charmer as The Nutcracker into a gargantuan Mammonite cavern like the O2 Arena, where magic only counts if it rings loudly in the coffers - car park £25! programmes £10! As with the Royal Ballet’s Romeo and Juliet last June, Birmingham Royal Ballet have put up a cinema screen to enable thousands of viewers far away to catch what looks dolls-house-sized in real view.

Here’s a mindboggling statistic. By my calculation, some 330,000 seats are going to be offered for sale in London and Birmingham for just one ballet this Christmas - that’s live seats, not counting the three (yes, three) cinema screenings of foreign Nutcrackers being beamed into the UK on a lot of holiday dates. So the dance industry reckon to sell up to half a million Nutcracker seats mostly in London in a bit over a month?

The Nutcracker, if this isn’t too much of a mixed culinary metaphor, divides audiences like Marmite: love it or hate it. Usually it’s the critics who hate it, and for them it is often only the annual round of Nuts to be Cracked that wears on the soul. It is hard to imagine, otherwise, that anyone with functioning ears can fail to be thrilled as what is arguably Tchaikovsky’s greatest orchestral work begins to swell from the pit.

The lighting chief holds the success of a magical fairy-tale staging in his hands. Whatever the designer has done, however fantastical and virtuosic his visions, the lighting chief can ruin it. So it is with English National Ballet’s new Nutcracker, in which two gigantic miscalculations kill any of its old-fashioned atmosphere. Act One is hobbled by a gauze dropped over the front of the stage for half of it; Act Two is sabotaged by ultra-violet lighting like a morgue fridge in a horror movie.

The designer of a fairytale ballet is far, far more important than the choreographer. It's those visions that lodge themselves in children's heads, in adults' memories, embedded with the music. And at no time more potently than Christmas when it's time for The Nutcracker and Cinderella.

This month’s selection includes two seasonal releases – one a selection of Tudor choral music and the other a popular Christmas ballet. There’s yet more ballet in a new disc from Russian forces, and late-Romantic orchestral music is represented by two live performances from London orchestras. We’ve piano concertos by Mozart and Ravel, and piano duets by Schubert played by two of Britain’s best younger musicians. An underrated American pianist gives an intelligently planned recital, and a recorder virtuoso teams up with a master lutenist.

Peter Wright’s superlative production of The Nutcracker has returned to Birmingham Royal Ballet's repertory for Christmas, a production he created for the company in 1990 and to my mind superior to any other presented in the UK today. Magic, the awesomeness of the Tchaikovsky score, are realised upon the stage and shown in its dances with a childlike sense of fantasy. The Christmas tree rises, the rats play, the snow-goose flies - and the audience gasps.

Christmas ballet would be unthinkable without The Nutcracker. But what kind of Christmas should it be? This year the UK fields an astonishing array of visions, from Biedermeier formality at the Royal Ballet, to Fanny and Alexander romanticism at Birmingham Royal Ballet, Elvis cartoons at English National Ballet, and expressionist German psychodrama at Scottish Ballet.

Is the look to be Beckmann, Bergman or Nicky Haslam? To accompany the interviews with Nutcracker designers elsewhere, here are three very different design portfolios tackling the eternal magic of this favourite ballet with unexpected reference points. Sketches by John F Macfarlane for Birmingham Royal Ballet, Antony McDonald for Scottish Ballet and Gerald Scarfe for English National Ballet are seen with production stills alongside.

At this time of year people who love ballet divide into two tribes: those who are too sophisticated for The Nutcracker and those who will never been too sophisticated for The Nutcracker. The former will say that The Nutcracker is a children’s ballet. For the latter, Christmas would not be Christmas without hearing probably the most familiar and adored of Tchaikovsky’s music scores.