To liven up the bleak times in a war-torn country, and to fatten their wallets, music promoter Uncle Sweetheart (John Goodman) and his friend and TV producer Nina Veronica (Jessica Lange) organize a benefit concert. Unable to secure any major stars, they arrange for the release of Jack Fate (Bob Dylan), serving a prison sentence for an unknown crime. Fate is an iconic but enigmatic performer, and news of him headlining the concert attracts a variety of characters, including a grizzled journalist (Jeff Bridges), a devoted fan and bartender (Luke Wilson), an unbalanced animal lover (Val Kilmer), a religious devotee (Penelope Cruz), a rebel soldier (Giovanni Ribisi), and more. Excitement mounts as the concert takes on more of a circus sideshow atmosphere, and the revolution heats up, and Sweetheart and Fate and the rest try to manage the chaos and keep the concert together.