The panorama was converted to the Théâtre Marigny in 1894 by the architect Édouard Niermans and became a home to operetta and other musical theatre.
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Balbon participated in Feu d'artifice by Erik Charell and Jurg Amstein with music by Paul Burkhard starring Suzy Delair at the Théâtre Marigny in 1952.
A revival at the Théâtre Marigny starring Josephine Baker in the title role was produced on 17 December 1934, with the libretto revamped by Albert Willemetz and some changes to the music.
In the post-war years, the Theatre du Rond-Point was one of the principal venues—along with the Theatre Marigny and the Theatre de l'Odeon—where the Madeleine Renaud-Jean-Louis Barrault Company introduced the world to many of the plays of Jean Giraudoux, Eugène Ionesco, Jean Anouilh, and Samuel Beckett.
She made her first appearance on the stage with Francis Huster in «Théâtre Marigny» (Paris, 1992) in «Suite Royale» by Crébillon and in «Le Cid» by Pierre Corneille.