A theater troupe's young, energetic leader has secured an old theater in which to mount his new production. The theater's elderly caretaker, however, urges the group to leave at once.
After performing a Charleston and a sexy jazz-modern dance number, the crew is startled by the applause of a tuxedo-clad man in the audience, the titular vampire, who approaches the troupe and entrances its lead dancer, Julia. After wandering alone into the depths of the theater, Julia encounters the vampire, who bites her and takes her to his crypt, where his bouffanted brides are chained to a wall and giggle and hiss at one another.
After a flashback, in which we learn that Julia is the reincarnation of the vampire's love, Laura, who double-crossed him and caused him to be damned forever, the vampire vows to kill Julia for revenge, but due to his enduring love for her, he lets her go.
Julia returns to the troop, who try to flee the theater again, but as they cross the stage, the lights flicker and a jazz record beings to play, so they instead burst into a frenzied modern dance that involves messy hair, rolling about on the ground, and manic jazz hands. The vampire reappears, but when the troupe surrounds him with burning torches, he dies.