A college graduate mortgages his estate to produce a show with a singer he admires; he loses his money, but the musical show succeeds anyway.
While Pat Thatcher (Ann Sothern) sings "I'm in Love All Over Again," a gang of college kids invades the nightclub. Doug Tyler (Gene Raymond) tries to join Pat's act during "Palsy Walsy." Pat is annoyed by Doug but laughs when he gets his head caught in her window.
Doug graduates from college and looks for a job in show business, working as a tour guide for a radio station at $22.50. He takes a group in to hear Pat and gets fired. Commodore Thatcher (Thurston Hall) wants his capital for a show. He is Pat's father and invites Doug for dinner. While cooking, Pat tells Doug she is rehearsing a show. Doug visualizes the show with beautiful costumes and borrows $15,000 on the property he inherited to be one of three producers. The Commodore asks Ganz for his 10%. Chowsky (Lionel Stander) listens to the operatic singing of Trixie (Pert Kelton), who is sponsored by Judge Peterby (Etienne Girardot). She is not annoyed by his criticism, because "No one beneath me could hurt me, and no one above me would hurt me."
Doug asks for a high hat from Pat, who complains to her father that he got Doug to invest all his money. Doug sings "You're an Angel" to Pat, and she sings it back. Doug tells Chowsky that Trixie's number is okay, because the audience will laugh. The Commodore tells "duchess" Schultz (Georgia Caine) of his investment and steps aside to let her pay the check. Chowsky shows him a news article that bogus producers Ganz and Grady are wanted by the police. Doug tells Pat that he has "no house, no show, and no prospects." She tells her father that she's afraid Doug has lost his dreams. Commodore promises to marry the duchess on a ship and leaves her to mail a letter, giving Pat and Doug her check for $15,000. Doug pays for scenery and costumes.
At the dress rehearsal Bill Robinson as Harlem mayor sings "I'm Living in a Great Big Way." He tap dances with Jeni Le Gon. Fats Waller plays piano and sings. Then Doug is arrested for bad checks. The costumes are taken. Commodore goes to the duchess, and the judge marries them in a cab. Pat pleads to borrow the costumes and scenery, and the show called "Hooray for Love" opens. Doug in the wings writes "Marry me?" and Pat while performing nods yes.
This musical comedy provides moderate entertainment during the tough times of the Depression when shows often barely operated.