The story is about a dashing, smug but romantic silent film star and matinee idol (Don Lockwood) and his glamorous blonde screen partner (Lina Lamont) who are expected by studio heads, to pretend to be romantically involved with each other. They are also pressured by the studio boss R.F. Simpson to change their silent romantic drama (The Duelling Cavalier) and make their first sound picture, renamed as the musical The Dancing Cavalier.

There's one serious problem however - the temperamental Lina Lamont has a shrill New York accent. Don's ex-song-and-dance partner (Cosmo) proposes to turn the doomed film into a musical, and suggests that Don's aspiring actress and dancer girlfriend (Kathy Selden) dub in her singing voice behind the scenes for lip-synching Lina. The results of their scheming to expose the jealous Lina and put Kathy in a revealing limelight provide the film's expected happy resolution.

The 1952 film version starred Gene Kelly, Debbie Reynolds and Donald O'Connor.