Located in the heart of the city, Theater Square becomes the epicenter of cultural events, attracting crowds for concerts, the Sea Festival, and other city celebrations. This place has historical significance, having been formed in 1819 when the castle moats were filled, giving rise to the New Market and drawing people to the bustling marketplace. Nearby, butcher stalls were erected, and in 1860, a market hall was built, thriving alongside the Fish Market, which operated directly from boats.
The establishment of the New Market helped shape Theater Square as a central trading hub, connecting it
with other market areas and transforming this space into a vibrant commercial zone. By the early 20th century, Market Street, Theater Square, and the New Market created an extensive trading route, filled with carts, stalls, and merchants during festive occasions. When market spaces became insufficient, trading would spread up to Sukilėlių Street.
Since the 19th century, Theater Square has been a venue not only for commerce but also for cultural activities. It is said that as early as the 17th century, traveling theater troupes performed plays here, enriching the cultural life of the city.