The movie begins in the bustling city of New York, where Laura Crane, a Samara Weaving who is a passionate film studies professor specializing in slasher movies, finds herself in a local bar awaiting her date, Reggie. Their interaction is filled with playful banter as Laura discusses some of the common tropes found in popular horror films, creating a cozy yet suspenseful atmosphere. Reggie, claiming to be lost, asks to step outside to find his way, prompting Laura to step out with him and walk down a shadowy alley. This seemingly innocent decision quickly turns sinister when Laura hears the chilling voice of GHOSTFACE ([Roger L. Jackson]) taunting her for falling into a horror movie cliche of walking into dark alleys. The encounter turns violent as Ghostface brutally stabs her, revealing himself to be Jason Carvey, played by [Tony Revolori], after he removes the mask.
Meanwhile, Jason, as he heads back to his dorm, crosses paths with Tara Carpenter, portrayed by [Jenna Ortega], who is on her way to a fraternity party. Tara is with her sister Sam, a [Melissa Barrera] who recently moved to New York for college, along with their friends Chad and Mindy ([Mason Gooding] and [Jasmin Savoy Brown]), who are also trying to settle into their new environment. Jason returns to his dorm, where he shares a room with his roommate, Greg. Soon, Jason receives a mysterious call from “Greg,” but it’s soon revealed to be Ghostface, communicating with Jason in a sinister voice. Together, they have a chilling shrine dedicated to Ghostface and the "Stab" movies, hinting at their fascination with horror lore, specifically Laura’s grading of Jason’s paper on director Dario Argento. The motive behind their killing spree appears linked to completing the story of the "film" they’re trying to finish, inspired by the murders of Richie Kirsch ([Jack Quaid]).
Things take a dark turn as Jason follows this ghostly voice and discovers the severed remains of Greg stashed in a fridge, only for the real Ghostface to appear and fatally stab him, dismissing his obsession with movies by scoffing, "Who gives a fuck about movies?" In the meantime, Sam undergoes therapy with Dr. Christopher Stone ([Henry Czerny]), due to her ongoing trauma from previous ghostface killings in Woodsboro. She still struggles with her feelings about her past, especially since a rumor falsely implicates her in orchestrating those murders—rumors rooted in her being Billy Loomis’ (Skeet Ulrich) daughter. Despite her efforts to stay vigilant, she finds herself haunted by her past, and her relationships with her sister Tara and their friends become increasingly strained as they try to piece together the chaos.
At a college party, Tara, heavily intoxicated, nearly walks into a dangerous encounter, but Mindy ([Jasmin Savoy Brown]) and Chad intervene just in time to prevent her from hooking up with a frat boy named Frankie. The group’s attempt to protect Tara sparks tension, especially when she feels that her privacy has been violated. Meanwhile, Sam secretly begins a relationship with Danny ([Josh Segarra]), keeping it hidden from her sister and friends due to her fears and past experiences. The media quickly amplifies the chaos, broadcasting the murders of Jason and Greg—Laura’s brutal killing signifying Ghostface’s return. This surge in violence prompts Sam to consider evacuating Tara, but Tara refuses to leave, showing her resilience despite her fears.
The police become involved, with Detective Wayne Bailey ([Dermot Mulroney]) informing Sam that someone has stolen her license and planted it at the crime scenes, which raises suspicions. As Sam prepares to leave for the police station, she receives a call from Richie’s phone, where Ghostface accuses her of being responsible for the past Woodsboro slaughter. A fight ensues when Ghostface shows up again, attempting to stab Tara, but Sam pushes him away and they end up taking refuge in a nearby bodega. The killer vanishes after a violent spree, leaving behind his mask, and the sisters are taken into custody for questioning.
The authorities bring in Kirby Reed ([Hayden Panettiere]), a survivor of previous Ghostface attacks, to help decipher the new string of murders. As the group grapples with the mounting deaths, including Quinn Bailey ([Liana Liberato]) and Anika Kayoko ([Devyn Nekoda]), they realize that the killer’s motives are linked to revenge rooted in the Richie case. They explore a museum filled with relics from past Ghostface killers, which underscores the franchise’s new, more dangerous phase. During this investigation, it becomes clear that the killer targets key figures and that even the most trusted characters may be suspects.
A nerve-wracking pursuit leads to the discovery that there are multiple Ghostface killers this time—three in total—each with their own motives. The unmasking moment shocks everyone when Ethan ([a revealed actor]) is revealed as the first killer, followed by Quinn, who is alive and revealed to be part of the sorid family vendetta. The third, Bailey, turns out to be their father, who supports the killing spree as revenge against Sam’s family, considering her connection to Richie. Their plan is to eliminate her and her sister Tara, motivated by past grievances and a desire to finish the legacy of Ghostface. The confrontation escalates into a frantic fight involving multiple characters, culminating in Tara being stabbed but surviving, and Quinn being shot in a dramatic headshot.
In the chaos, Sam confronts Bailey, using her wit and a Ghostface voice modulator to trap him. She delivers a brutal final blow, stabbing him repeatedly and declaring that she is better than him, despite her family’s dark history. After a tense struggle on the balcony that results in Tara falling over the edge, the remaining family members—Bailey, Ethan, and Quinn—are all neutralized one way or another, with Kirby and others stepping in to help.
With the threat resolved, Sam and Tara find solace in each other’s company, amid the chaos and loss. As the last of the deadly family members are put down, she reveals she kept her father’s Ghostface mask as a token of her past but ultimately drops it onto the street. The film closes on the streets of New York, with the sisters walking away into the night, symbolizing the uncertain future of their fight against this relentless franchise of horror.
