Pauline Neuber is the managing director of the "Olympia" theatre for more than 50 years but recently her business is running slow. It seems as if nobody is pleased with her work anymore. Audiences and critics alike object to the plays she puts on and the shareholders of the theatre want to sell their shares. In short: the "Olympia" faces ruin. Then, Pauline′s grand son Erich, whom she has always underestimated, falls in love with Hella Bergson. But Erich does not know that she is the daughter of theatre critic Peter Bergson. Erich plays some melodies from his first self composed operetta to an enthusiastic Hella who in turn persuades him to stage his operetta at the "Olympia". During rehearsals Hella and Erich start a fight over a silly misunderstanding. Erich is only thinking about finishing his play, and gruffly rejects Hell′’s attempt to reconcile. But shortly before their love comes to an end, grandmother Pauline finally intervenes. She already has a plan how to reunite the two lovers.