The Alabama Theatre was built in 1927 by Paramount Studios as an Alabama showcase for Paramount films. It was used primarily as a movie palace for 55 years. In 1987 the owners of the facility declared bankruptcy and the theatre was purchased by Birmingham Landmarks Inc. Now the Alabama Theatre for the Performing Arts, it hosts many live events. Each year the Theatre hosts over 300 events attended by a half million People. In 1998 the Theatre underwent a complete restoration.