Footlight Varieties is the third of four titles in the RKO series of variety films, combining previously filmed shorts with new musical numbers, plus monologues by master of ceremonies Jack Paar. The new footage was directed by Hal Yates and written by Yates and Felix Adler.

In addition to Paar, the new footage includes performances by The Sportsmen quartet, Liberace, Jerry Murad's Harmonicats, Red Buttons, Grace Hartman, flamenco dancer Inesita, and comic trick photography by Weegee. The older sequences are taken from the Leon Errol two-reel comedy He Forgot to Remember, a Flicker Flashbacks silent-movie revival (with new narration by Paar), a Frankie Carle musical short (Carle Comes Calling), and a production number with eccentric dancers Buster West and Melissa Mason (from Radio City Revels)

Footlight Varieties was followed by the fourth and final film in the "musical revue" series, Merry Mirthquakes, which received a limited release in 1953. Liberace appeared in new footage showcasing his piano performances, and he introduced three RKO comedy shorts.