The film takes place in 1973, during the height of the rock 'n' roll era. William Miller (played by Patrick Fugit) is a bright and ambitious high school student who becomes a teenage correspondent for Rolling Stone magazine. He is assigned to tour with the fictional rock band Stillwater, which is on the verge of stardom. As William travels with the band, he becomes infatuated with the rock 'n' roll lifestyle and begins to form close relationships with the band members, particularly the lead guitarist, Eddie (played by Billy Crudup).