Grace Kelly won a best actress Oscar for her role as the wife of alcoholic has-been actor Bing Crosby in this version of Clifford Odets's turgid play, which also won director George Seaton an Academy Award for his screenplay. William Holden plays the theatre director who becomes embroiled with Kelly. With hindsight, and the demise of all three principles, the film has an extra piquancy, provided the viewer knows that in real life Kelly was romantically involved with both Crosby and Holden. Crosby is excellent, and Kelly isn't far behind, but many felt the Oscar should have gone to Judy Garland for A Star Is Born. According to Groucho Marx, it was "the greatest robbery since Brink's".

An actor on the skids is given one more chance to regain his stardom, as well as his self-respect, yet his alcoholism may prevent that from happening.