Stage and screen star Tony Hunter, a veteran of musical comedy, is concerned that his career might be in decline. His good friends Lester and Lily Marton have written a stage show that they believe is perfect for his comeback.
Tony signs up, despite misgivings after the pretentious director, Jeffrey Cordova, changes the light comedy into a dark reinterpretation of the Faust legend, with himself as the Devil and Tony as the Faust character. Tony also feels intimidated by the youth, beauty, and classical background of his female co-star, noted ballerina Gabrielle "Gaby" Gerard. Unbeknownst to him, she is just as insecure in his presence, awed by his long stardom.
Eventually, it all proves too much for Tony. He walks out, but Gaby speaks with him alone and they work out their differences. They also begin to fall in love, though she already has a commitment to the show's choreographer Paul Byrd.
When the first out-of-town tryout in New Haven proves to be a disaster, Tony persuades Jeffrey to let him convert the production back into what the Martons had originally envisioned. Tony takes charge of the production, taking the show on tour to perfect the new lighthearted musical numbers. Since the original backers have walked out, Tony finances it by selling his personal art collection. Byrd walks out, but Gaby remains.
The revised show proves to be a hit on its Broadway opening. Afterwards, Gaby and Tony confess their love for each other.
Who feels intimidated by the youth?
Tony