在好莱坞的日落大道边，有一个荒废的豪宅，院子进里的游泳池里发现了剧本作者乔·吉利斯的尸体，故事由此展开 ······过气演员诺玛（葛洛丽亚·斯旺森 Gloria Swanson 饰）已经将近50岁，曾经的风华绝代正在她居住的荒废豪宅里慢慢凋谢，身边只有好友马克斯（埃里克·施特罗海姆Erich von Stroheim 饰）伺奉。她没放弃重燃光辉的梦想，《莎乐美》的剧本正待编写，而逃避债务逃至此地的没落编剧乔（威廉·霍尔登 William Holden饰），正是这项事业的最佳候选。诺玛收留他住下，给他提供舒适的环境写作，并慢慢的倾心于他。他们二人都被对方所吸引。乔对大导演马克斯作诺玛的管家侍候诺玛大为不解。剧本完成后，为了要把这本剧本送给老朋友导演塞西尔，诺玛带了乔，叫马克斯开车到摄影场。塞西尔导演只对这部老爷车感兴趣，并不喜欢诺玛的剧本，马克斯和乔都不敢把真像告诉诺玛。这时乔对在摄影场剧本部工作的贝蒂（南希·奥尔森 Nancy Olson 饰）一见钟情，若玛知道这件事后决意要破坏他们的感情，乔非常生气， 现在乔已经不能接受这个青春已逝的妇人。他拒绝了她，并转过身和贝蒂相爱，打得火热。诺玛得知了乔的“背叛”，她卑微地哀求他，却动摇不了他渐行渐远的心，诺玛终于举起枪对准正要离开的乔。

这是一部美国著名音乐家杰罗姆·科恩(Jerome Kern)的传记片。杰罗姆·科恩在音乐剧的发展历史上是不可缺少的人物。他被称作是“现代美国音乐剧之父”和美国剧场音乐的先驱。他于1927年创作的《演艺船》是百老汇音乐剧早期阶段最为重要的作品，开启了剧本音乐剧的先河。

Tony Marvin is a laid back but incredibly successful promoter and fair-haired boy for J. P. Todhunter's pineapple company located in beautiful Hawaii. He gets the company to sponsor a contest in which the winner gets a Hawaiian vacation and is obligated to write articles on the islands which, when published, will constitute a publicity coup for the company. Unfortunately, Georgia Smith, the winner, feels lonely and isolated in the Islands and wants to return to the States. With help from buddy Shad Buggle Tony tries to romantically divert Georgia without letting her know his true motivation.

The story starts with a prologue set in 1889 in which we see an angry husband murdering his wife's lover. The setting then moves to 1929, just as an antiques dealer Philip Vantine (John St. Polis) has finished moving into the same house where the 1889 murder occurred.