The film tells of Liszt's life through surrealistic episodes blending fact, fantasy, and anachronistic elements. At the start, Liszt is caught in bed with Marie d'Agoult by her husband, the Count d'Agoult. The count challenges Liszt to a sabre fight, but Marie begs the count to let her share Liszt's fate. The count's staff traps Liszt and Marie in the body of a piano and leaves it on railroad tracks.
This is shown to be a flashback triggered by the camera-flash of photographers backstage before one of Liszt's concerts. Liszt introduces Richard Wagner to his colleagues, including Gioachino Rossini, Hector Berlioz, Frédéric Chopin, and Hans von Bülow. Liszt pays Wagner to let him perform a variation on a theme from Rienzi. At the concert, Wagner is put off by Liszt's crowd-pleasing showmanship at the expense of serious musicianship, which includes adding the melody of Chopsticks to his Rienzi variation. However, the crowd, consisting largely of young screaming girls, go wild at Liszt's performance, storming the stage.
