Show Boat, considered to be the first true American musical play, opens at the Ziegfeld Theatre on Broadway.

Show Boat is a musical with music by Jerome Kern and book and lyrics by Oscar Hammerstein II. It is based on Edna Ferber's best-selling 1926 novel of the same name. The musical follows the lives of the performers, stagehands and dock workers on the Cotton Blossom, a Mississippi River show boat, over 40 years from 1887 to 1927. Its themes include racial prejudice and tragic, enduring love. The musical contributed such classic songs as "Ol' Man River", "Make Believe", and "Can't Help Lovin' Dat Man".

The musical was first produced in 1927 by Florenz Ziegfeld. The premiere of Show Boat on Broadway was an important event in the history of American musical theatre. It "was a radical departure in musical storytelling, marrying spectacle with seriousness", compared with the trivial and unrealistic operettas, light musical comedies and "Follies"-type musical revues that defined Broadway in the 1890s and early 20th century. According to The Complete Book of Light Opera:

Here we come to a completely new genre – the musical play as distinguished from musical comedy. Now … the play was the thing, and everything else was subservient to that play. Now … came complete integration of song, humor and production numbers into a single and inextricable artistic entity.

The quality of Show Boat was recognized immediately by critics, and it is frequently revived. Awards did not exist for Broadway shows in 1927, when the show premiered, or in 1932 when its first revival was staged. Late 20th-century revivals of Show Boat have won both the Tony Award for Best Revival of a Musical (1995) and the Laurence Olivier Award for Best Musical Revival (1991).