朱利安(沃纳·巴克斯特 Warner Baxter 饰)是一位百老汇戏剧导演,虽然已经垂垂老矣,但朱利安依然渴望着能够导出一部完美的戏剧。一名年迈的富翁给了朱利安一大笔钱投资他想要拍的新剧,只因为富翁一直爱慕着剧团的女主演多萝西(贝比·丹尼尔斯 Bebe Daniels 饰),可惜对于富翁的付出,多萝西瞧都不愿瞧一眼,她依然痴痴的爱慕着曾经的情人。 紧张的排练期终于结束,盛大的首演之夜即将来临。然而,在这个节骨眼上,多萝西在意外之中摔伤了膝盖,无缘舞台。代替她的,是一个名叫佩吉(鲁比·基勒 Ruby Keeler 饰)的合唱团女孩,让众人没有想到的是,佩吉的演出居然获得了空前的成功。Renowned Broadway producer/director Julian Marsh is hired to put together a new musical revue. It's being financed by Abner Dillon to provide a starring vehicle for his girlfriend, songstress Dorothy Brock. Marsh, who is quite ill, is a difficult task master working long hours and continually pushing the cast to do better. When Brock breaks her ankle one of the chorus girls, Peggy Sawyer, gets her big chance to be the star. She also finds romance along the way.