The second company was founded by conductor Sylvan Levin in 1938 and was active for six years before it too closed due to financial reasons in 1944.
Notable singers to have performed with the POC during its short history include Lina Cavalieri, Armand Crabbé, David Devriès, Hector Dufranne, Minnie Egener, Mary Garden, Alice Gentle, Jeanne Gerville-Réache, Gustave Huberdeau, John McCormack, Carmen Melis, Maurice Renaud, Mario Sammarco, Marguerite Sylva, Emma Trentini, Emilio Venturini, Giovanni Zenatello, and Nicola Zerola.
In 1938, Sylvan Levin founded the second Philadelphia Opera Company, serving as its artistic director and principal conductor for the next six years.
The POC's first performance was of Giacomo Puccini's La bohème on January 19, 1939, with Barbara Thorne as Mimì, Fritz Krueger as Rodolfo, Frank Cappelli as Marcello, Frances Greer as Musetta, and Levin conducting.
The company's last performance was of Johann Strauss II's Die Fledermaus on February 18, 1944, with Robert Stuart as Alfred, Jayne Cozzens as Adele, Helena Bliss as Rosalinde, and Joseph Laderoute as Gabriel von Eisenstein.