Dismayed by the profiteering surrounding the Isle of Wight festival, a group of friends - Mick, Jeff, Trev, Marty and Cathy - return to the mainland, where they pitch their tent in the grounds of a stately home.

The stately home is owned by Rafe, who plans to sell the property. After some initial antagonism, the group persuade Rafe to allow them to paint and decorate the house while he is away.

Unknown to Rafe, the friends plan to stage a pop festival in the grounds of his house. The friends travel to London, hoping to book some pop groups, but the high costs involved are problematic. The group discuss money making projects and they attempt to make a porn film to raise money, but this proves more difficult than expected and the scheme is abandoned.

Eventually, Jeff, posing as an American journalist, convinces the manager of the group Juicy Lucy to allow his act to appear at the festival for nothing. Hearing of this, the managers of other pop acts follow suit.

Mick and Jeff steal various equipment and supplies needed for the event, and a stage is erected in the grounds of the house. When the festival begins, many of the audience climb over the fence to get in, to avoid paying the entrance fee.

The festival is already underway when Rafe returns, accompanied by a prospective buyer for the property. Deterred by the festival, the buyer decides not to go ahead with the purchase.

After the festival ends, Rafe angrily orders Mick and his friends off his property. Since most of the audience refused to pay the admission fee, the group have made no profit on the venture, but haven't lost anything either.