The story revolves around Stephen C. McQueen, an unsuccessful actor who is the understudy for Josh Harper, a famous and talented actor starring in a play about Lord Byron. Despite being a brilliant performer, Josh is arrogant, addicted to drugs and alcohol, and having an affair with his co-star.

Stephen is in awe of Josh's talent but also resents his success. He develops feelings for Josh's wife Nora, an American who is unhappy in the marriage. When Stephen discovers Josh's infidelity, he promises not to tell Nora on the condition that Josh ends the affair and gives Stephen a chance to perform as the lead.

However, Stephen later exposes Josh's affair to the press out of jealousy, devastating Nora. She turns to Stephen for support, and they grow closer, though Stephen feels guilty about his role in the scandal. One night, a drunken Nora nearly overdoses, and Stephen takes care of her, leading to an implied sexual encounter between them.