Act 1

“When the curtain rises the performance has just ended.”

At the Budapest Orpheum, chanteuse Sylva Varescu gives her final performance before departing for America. She has captured all hearts in the Danube metropolis with her unique blend of melancholy and ecstasy. Among her admirers are Boni, Count Káncsiánu, Feri (called Feri Bácsi), and Edwin, son and heir of the noble family of Lippert-Weylersheim, who has fallen madly in love with Sylva. Though she returns his affection, she knows: a relationship between a cabaret singer and a prince has no future, even as the old social order crumbles. Edwin‘s parents, especially his mother Anhilte, are concerned about their son‘s activities in Budapest. In the midst of revelry and merriment, a disturbing telegram arrives: Edwin‘s cousin, Eugen von Rohnsdorff, delivers his draft notice. Edwin must report to the commander the next day. To everyone‘s surprise, Edwin proposes to Sylva at the Orpheum, planning to get married within eight weeks. She agrees and cancels her America tour. Unknown to Edwin, Rohnsdorff has given Boni another letter revealing that Edwin‘s parents have already printed engagement announcements for him and Countess Anastasia von Eggenberg. Upon learning this, Sylva feels used and betrayed, and decides to leave for America immediately.

Act 2

Two months later in Vienna, Edwin’s parents are determined to ensure his marriage to Stasi (Anastasia). Stasi reveals to Edwin that she knows about his unhappy love affair. Boni arrives with a woman who bears a striking resemblance to Sylva, and introduces her as his wife, Countess Káncsiánu. Boni immediately falls for Stasi. Edwin, recognizing Sylva, sees an opportunity to marry her without his parents’ objection, as she now is a divorced countess. Sylva, feeling deceived again, tears up the marriage document Edwin had offered her in Budapest.

Act 3

Feeling mistreated by Edwin and seeing no future in theatre, Sylva seeks comfort from Boni and Feri Bácsi. Edwin confronts Boni about revealing the arranged engagement to Sylva. As the princely parents try to avert a scandal, Boni expresses his intention to marry Anastasia. When Count Lippert-Weylersheim refuses to accept a chanteuse as a daughter-in-law, Feri Bácsi reveals that Edwin’s mother, Anhilte, was once a cabaret singer herself. After this revelation, there’s no longer any reason to deny Edwin and Sylva’s wedding.