Studio 54: In the late 1970s, at the peak of the disco dancing and music trend, the building was renamed after its location, and became a world-famous nightclub and discotheque. The nightclub founders spent hundreds of thousands of dollars on professional lighting design, and kept many of the former TV and theatrical sets, in the process creating a unique dance club that became famous for its celebrity guest lists, restrictive (and subjective) entry policies (based on one's appearance and style), and open club drug use.