Multi millinaire Ezra Ounce wants to start a campain against 'filthy' forms of entertainment, like Broadway-Shows. He comes to his relatives families and makes them members od his morale-boosting campain. But Jimmy, another relative is producing a show, starring Ezra's nice Barbara. But he had bad luck with his backer, this person has give him an invalid check. Another of his victims, the show-girl Mabel has the idea of blackmailing Horace, Barbaras father, whom she has met before in a slightly compromising situation to get the money.

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。