Michael Linnett Connors takes Molly Adair from Broadway understudy to 1913 Hollywood star. Although she is in love with him, she marries her co-star reckoning wrongly Connors thinks of her only in terms of movies. He fires her in pique, apparently terminally damaging his career.

In 1913, at the infancy of the film industry, erstwhile studio prop boy Michael Linnett Connors sees understudy Molly Adair perform on Broadway and, convinced that she is star material, persuades her to sign a personal contract with him. Next, Mike induces the president of Globe Pictures, Lyle P. Stout, to give him a chance to direct Molly in her first picture. Mike's lively imagination and tireless energy propels Molly from the queen of the "pie-in-the face" Keystone Cops to leading lady, and with Dave Spingold as his producer partner, Mike rises to become the head of his own studio. Molly falls in love with Mike but, believing that he is only interested in making pictures, marries her leading man, Nicky Hayden. Upon learning of the marriage, Mike, who is in love with Molly, feels betrayed and tears up the newlyweds' contract. As their stars continue to rise, his falls until he is down and out. Thanks to Dave and Molly, however, Mike gets a chance to come back, directing Molly's new picture. With only one reel left to be shot, Nicky is killed and Molly seriously injured in a car crash,and the film's financial backer, Mr. Roberts, orders Mike to finish the picture with a double. Believing that Robert's suggestion would ruin the picture and Molly's career, Mike refuses and steals the unfinished negative until he can persuade Molly to come back to the set. After the success of the first "talkie," The Jazz Singer , Mike convinces Roberts to finish the picture in sound. Mike's enthusiasm renews Molly's will to live, and after the picture's success as a "talkie," the producing team of Mike, Molly and Dave marvel at the progress of Hollywood.