At the 1994 Worldvision Song Festival, a talented brother-sister duo, Dandi and Pandi, portrayed by Allan Love and Grace Kennedy, capture the attention of the youthful audience with their infectious disco number “BIM.” Their performance impresses, but when Alphie and Bibi, played by George Gilmour and Catherine Mary Stewart, take the stage to present “Love: The Universal Melody,” they receive an even more enthusiastic response. However, the broadcast of the event is manipulated by Mr. Boogalow, the president of Boogalow International Music, portrayed by Vladek Sheybal. With the help of his assistant Shake, played by Ray Shell, Boogalow emits a sound that causes the audience to turn against Alphie and Bibi’s heartfelt song, ultimately securing victory for BIM.

As the festival concludes, the celebrations at Boogalow’s opulent home unfold. In a bold move, Dandi slips a drug to Bibi and kisses her during the revelry, leading to an ensuing confrontation with Alphie, who tries to rescue her. Meanwhile, Boogalow’s marketing gimmick unveils a holographic BIM triangular sticker, compelling everyone to wear it prominently on their bodies.

The following day, Alphie and Bibi venture to BIM’s office, where Boogalow expresses his desire to represent them as their agent. While Bibi is thrilled by the opportunity, Alphie remains skeptical of Boogalow’s intentions and wants a lawyer to review the contract before making any commitments. As they wait, other artists perform a lively production number titled “Showbiznes.” Boogalow offers them individual contracts through his lawyers, Michael Logan and Clem Davies. Caught up in a hallucinatory musical sequence, Alphie dreams of Boogalow as a devilish figure, while Dandi lures Bibi into signing her contract, which she ultimately does against Alphie’s wishes.

Soon, Boogalow transforms Bibi’s appearance, initiating a concert tour that propels her to stardom. However, this newfound fame comes at a cost, as society mandates the wearing of BIM stickers and requires daily exercises with police enforcing the regulations set forth by Boogalow’s company. In the midst of all this, Alphie struggles to connect with Bibi, his financial situation deteriorating, and his attempts to get his song “Where Has Love Gone?” recognized thwarted by a producer who deems it outdated. His landlady, played by Miriam Margolyes, encourages him to pursue Bibi, but he faces violence from BIM’s enforcers.

Feeling imprisoned in her glamorous yet suffocating life, Bibi laments her situation while Alphie returns to Boogalow’s lavish parties. There, Pandi tries to seduce him with a drugged encounter, but Alphie escapes at dawn, only to find refuge with a group of old hippies led by Joss Ackland in a secluded cave. Stricken with regret over her choices within BIM, Pandi aids Bibi in escaping to rejoin Alphie.

United, the couple marries and starts a family with their hippie companions, living free from the industry’s constraints. However, after a year, Boogalow and the BIM enforcers track them down, demanding $10 million from Bibi for contract violations. In a moment of desperation, Alphie calls for “Mr. Topps,” prompting a miraculous appearance of a glowing Cadillac from the heavens, revealing God, also embodied by Joss Ackland. Topps intervenes, challenging Boogalow’s hold over them. Together, Alphie, Bibi, their child, Pandi, and the hippies ascend into the sky, with Topps promising to take them to a new planet as the melody of “Love: The Universal Melody” echoes in a triumphant reprise.