Watch Circus Life (1931) Official Trailer

Circus themed films usually provides a thrilling drama. The relatively obscure "Schatten der Manege" provides just what you'd expect. Doing the trapeze act angle, combining it with romance and jealousy for a darker plot, it has a lot of the right the ingredients. Does have moments where it spends too long of circus footage, which ruins some of the pacing, but otherwise a fine circus flick.