With the theater spin off in 1950, Paramount Pictures rented the theater to United Paramount Theatres. During the 1950s, along with the Paramount Theatre in Brooklyn, it was the site of live rock'n'roll shows presented by promoter Alan Freed.
The establishment of a cinema branch in 1950 led to Paramount Pictures leasing the theater to United Paramount Theatres. During the 1950s, it also served as a site for live performances of rock music presented by promoter Alan Freed, similar to the Paramount Theatre in Brooklyn.