This live dramatic series featured original stories and adaptations of novels, plays, etc. during it's eight year run. During the first year, the show was sponsored by the Actor's Equity Association and featured adaptations of Broadway plays and musicals: Bert Lytell, the former president of the Association, acted as host. During the second season, an agreement was made with the Book-of-the-Month Club and the plays were adaptations of current novels. Starting in the third season, the TV plays were adaptations of plays, novels, dramas, etc. by known and unknown authors. The title of the show was changed to "Repertory Theatre" (1949) for episodes 1.29 to 1.31 and "Arena Theatre" (1949) for episodes 1.32 to 1.38. Effective with episode 1.39, the original title was used. Starting with the fourth season, this show alternated weekly with "The Goodyear Theatre" (1951); starting in the eighth season, this program alternated with "The Goodyear Theatre" (1951) and "The ALCOA Hour" (1955).

During the first season, the show had three names: "The Philco Television Playhouse" for episodes 1.1 through 1.28; "Repertory Theatre" for episodes 1.29 through 1.31; "Arena Theatre" for episodes 1.32 through 1.38; and finally, starting with episode 1.39, the original name, "The Philco Television Playhouse," was restored.