Peter Schilling's 'Major Tom' only true musical remake?

[ben12]

Peter Schilling takes Bowie's story from Space Oddity and Ashes to Ashes and turns it into a new song. This is different from a cover, where a musician rerecords another artist's song, changing it in various ways, but usually keeping most of the melody and lyrics (or chorus, at least). But Schilling's is more like what happens with movie remakes, where they take the premise and story and rework it into a new movie. Typical song covers or 'remakes' are more like the remake of Psycho, where they used the same script and shots (analogous to lyrics and melody) and just had different actors (analogous to different singer/musicians).

Are there any other examples of these movie-style remakes in the musical world?