The show opens with a musical number introducing the premise of the musical ("Untitled Opening Number"). Jeff and Hunter, two struggling writers in New York, discuss the possibility of entering the upcoming inaugural New York Musical Theatre Festival. Though the submission deadline is only three weeks away, they make a pact to write an original musical in that time as a writing exercise. The scene morphs into song as they discuss setting their dialogue to music, imagine the success of their show, and express their longing for fame and recognition ("Two Nobodies In New York").
The two recruit their friends Susan and Heidi to help with the project. Jeff privately laments his writer's block; when his blank writing pad begins to look like Hunter, ideas begin to flow ("An Original Musical"). After Hunter's laptop crashes, resulting in much lost progress, Jeff and Hunter continue to battle writer's block by looking at song lists from old Playbills and brainstorming on a blank notepad ("Monkeys and Playbills"). As they continue to write the show, excitement mounts ("The Tony Award Song"). Jeff and Hunter discuss their ambition to write for a living and become a part of the theatre industry they so admire ("Part of It All").
As Heidi and Jeff work on a solo about her doubts on the whole project, Hunter and Susan worry that they are just stringing sketches and novelty songs together ("I Am Playing Me"). Susan and Heidi become suspicious of each other ("What Kind Of Girl Is She?"). The four express their doubts over the future and premise of their musical. Susan encourages them to keep going and 'kill their vampires', or the doubts preventing them from writing ("Die, Vampire, Die!"). Reenergized, they finish the show and, they tackle the festival's submission paperwork. After a moment of doubt and a brief intimate moment between Hunter and Jeff, they finally submit the show to the festival.
Against the odds, their musical is chosen for the festival. The four revel in their six performances at the festival ("Montage Part 1: September Song"); backstage, Heidi and Susan reconcile their differences and bond over their supporting roles in the show ("Secondary Characters"). The four find an industry producer interested in the show who encourages them to continue to develop it, before they get an offer to do the show Off-Broadway at the Vineyard Theatre.
Ten months later, Susan, Jeff, and Hunter are back at their 'day jobs' while Heidi receives an offer to join the cast of The Little Mermaid on Broadway. Hunter comes up with the idea of posting videos on the internet with the cast about the show to boost the show's popularity online — "the [title of show] show". The idea works — the show and the four go viral and the show's producer expresses interest in actually bringing the show to Broadway.
As plans progress toward taking the musical to Broadway, things begin to unravel: the four friends argue over changes to the show to make it more marketable ("Change It/Don't Change It"). Hunter gets a voicemail from Sutton Foster and, much to Jeff's chagrin, suggests casting her in Heidi's role for marketability. Tensions build — everything finally boils over at a publicity photo shoot ("Awkward Photo Shoot"). Hunter lashes out at all of them and leaves in a huff.
Later, Hunter breaks the ice by apologizing. More apologies follow, and the four (led by Heidi) wax nostalgic over younger, happier, less complicated days ("A Way Back To Then"). They now understand that the show must sink or swim as it is because their relationship and the quality of their creation are more important to them than commercial success ("Nine People's Favorite Thing"). Having reached a resolution, they decide to end the show, to "put the show out there and see what happens" ("Finale").
