Set against the backdrop of the early 1970s, the film delves into the final day of Jake Hannaford, an aging Hollywood director whose life tragically ends in a car crash on his 70th birthday. The narrative unfolds through the voice of an elderly Brooks Otterlake, a once-promising protégé of Hannaford's, who reflects on the complex legacy left by the iconic filmmaker. As the story progresses, we learn that Hannaford is engulfed in efforts to revive his flagging career by creating an experimental film, tantalizingly titled The Other Side of the Wind. However, this ambitious project is laden with gratuitous scenes of sex and violence, ultimately yielding mixed and indecipherable results.
Before his untimely demise, Hannaford's film remains unfinished, abandoned after John Dale, the film's star, storms off the set under mysterious circumstances that intrigue the audience. The film opens with a private screening showcasing garbled segments of Hannaford's unfinished work as a desperate attempt to secure "end money" from the studio head Max David. Intriguingly, Hannaford himself is absent during this curious event, leaving the task of elucidating the film's content to his former child star and loyal friend, Billy Boyle. Boyle's explanations fall flat, only adding to the film's enigma as various guests converge on Hannaford's birthday party at an Arizona ranch, each with their own stories and motives for being there.
Accompanying Hannaford is a young Otterlake, who has enjoyed success by emulating his mentor's style, claiming much of his achievements stem from careful observation of Hannaford's genius. The party soon attracts a horde of journalists armed with cameras, their invasive inquiries piercing Hannaford's carefully constructed public facade. They delve into personal matters, questioning his sexual orientation and labeling him a potential closeted homosexual despite his overtly masculine image. Having a history of seducing the partners of his leading men, Hannaford grapples with the implications of his relationships as the evening unfurls.
Among the attendees, speculation brews around the notable absence of John Dale, the leading man who Hannaford discovered during a moment of desperation when he attempted to take his own life by leaping into the Pacific Ocean. However, as the birthday festivities unfold, it is revealed that Dale's suicide attempt was merely a ruse; he had journeyed to Mexico in search of Hannaford. The screening reveals more scenes from the unfinished film, casting light on why Dale left the project—he abruptly exited a vital scene, clearly distressed by Hannaford's off-screen provocations.
As the party rages on, Hannaford succumbs to intoxication, leading to a poignant moment in the bathroom where he breaks down in front of Otterlake, pleading for help to rejuvenate his faltering career. However, a series of power outages disrupts the gathering, forcing guests to flock to the lantern-lit areas of the ranch, where they again view segments of the unfinished film in a drive-in cinema atmosphere. The air thickens with tension as Hannaford comes to terms with Otterlake's reluctance to provide the financial support he desperately needs, culminating in a sorrowful realization that their friendship may be irreparably fractured.
Throughout the party, inquisitive journalist Juliette Rich poses bold and intrusive questions regarding Hannaford's sexuality, leading to a volatile encounter where a drunk Hannaford lashes out in outrage. Amidst this chaos, a tipsy Boyle rises to defend his old friend, his impassioned speech echoing the loyalty that once existed among them. As dawn breaks, Dale arrives, wandering through the now-deserted house, eventually finding his way to the drive-in just as a beleaguered Hannaford departs. Dale is offered a ride in Hannaford's sports car but chooses to decline, leaving the director to drive into the abyss of fate, culminating in his fatal accident.
As the final remnants of Hannaford's troubled film echo across the empty drive-in screen, the only person left to watch is the actress who starred in it. She absorbs the culmination of the narrative, leaving as Hannaford's haunting final narration resonates: > "The story must go on."