As the story begins, we are introduced to Steven Post, played by Kurt Russell, an ambitious mailroom worker at the struggling United Broadcasting Corporation (UBC) Network. His mundane existence is thrown into chaos when he discovers that Raffles, a chimpanzee left in his care by his girlfriend, Jennifer Scott (Heather North), has a remarkable gift for predicting television hits. With Raffles at his side, Post gains unique insights into UBC’s programming decisions, setting the stage for a series of comedic and chaotic events.
In a delightful twist, Raffles watches preview screenings of various shows, hilariously reacting by applauding the ones he enjoys while mocking those he detests. Seizing a golden opportunity, Post sneaks Raffles into the UBC building and introduces him to the inner world of network executives. When they come across a potential blockbuster, "Devil Dan," which the executives are ready to dismiss, Post leverages Raffles’ talent to champion the film. By cleverly altering the reels and persuading the executives to air it, he unexpectedly boosts UBC's ratings and reputation, earning a promotion to vice president, much to the chagrin of other network heads.
However, this newfound power doesn't come without its challenges. E. J. Crampton (Harry Morgan) and former vice president Francis X. Wilbanks (Joe Flynn) become increasingly suspicious of the abilities Post claims to possess and set their sights on uncovering the truth behind his uncanny success. Their efforts lead to a hilariously misguided investigation involving a bumbling operative who mistakenly believes that Raffles is being held hostage, diving into misadventures that leave everyone involved in hysterics.
Amidst these humorous escapades, Wilbanks finds himself peering through a spyglass, leading to a shocking discovery: the beloved Raffles relaxing in front of the television as Post watches nearby. The executives begin to panic at the thought that their programming decisions might hinge on an animal, creating a perfect storm that threatens the very essence of television.
In a frantic attempt to control the disaster, Wilbanks concocts a scheme to retrieve Raffles from Post's apartment. However, their plans go awry, culminating in a near-disastrous situation that calls for firefighters, authorities, and even a kindly priest to intervene. Faced with impending catastrophe, the network offers Post an exorbitant sum of $1,000,000 for Raffles' return, a temptation that he wrestles with before ultimately making the decision to sell the monkey without consulting Jennifer.
This betrayal ignites a firestorm in Post's relationship with Jennifer, who is furious that her partner did not consider her feelings regarding their cherished pet. As the story unfolds, a fleet of network executives and camera crews takes to the skies in a cargo plane destined for the Amazon rainforest, ready to parachute Raffles into the wild. However, the clever primate has other plans, expertly orchestrating a series of events that leave everyone in disarray.
After a daring escape maneuver, Raffles returns to Post, who realizes that the network now needs that $1,000,000 to fund a search for Wilbanks and his team, who are lost in the jungle. Ultimately, Post decides to refund the money, showcasing his growth as a character.
In the aftermath, Steven and Jennifer find themselves rekindling their romance amid the chaos, exchanging vows and setting out on their honeymoon adventure with Raffles in tow. The story concludes with a heartwarming reflection on their journey, as a radio report announces the resignation of UBC's vice president, hinting at a new direction filled with hope and promise, both for the couple and for the network itself.
