The »Schauspiel« emerged as the drama division of Theater Magdeburg in 2004 following the amalgamation of Theater der Landeshauptstadt and the Freie Kammerspiele. The Schauspiel has been based in the renovated Schauspielhaus since 2005. Early in the 2014/2015 season, Cornelia Crombholz took over from Jan Jochymski as theatre director.

As a modern repertory theatre, the Schauspiel is devoted to contemporary drama, both domestic and foreign, and often stages premières and first nights. Modern interpretations of classics, projects and theatrical literature representing all eras and genres, from ancient times to the present, are also regularly performed. The Schauspiel presents itself as a young theatre run by artists for all generations. The schedule draws together a wide range of directorial styles and concepts; alongside daily repertory performances, the Schauspiel presents a varied programme of events in the form of matinees and soirées, jazz, nightclubs (including the Tatort Magdeburg series), a literature club, podium discussions and much more. The Schauspiel ensemble comprises 20 actors. Since the 2014/2015 season, the Bürger Ensemble Magdeburg has been part of the Schauspiel: in-house productions of themes relevant to Magdeburg are performed at various venues around the city.