The film is set in the summer of 1964 and follows the rise of a fictional one-hit wonder pop band called The Wonders from Erie, Pennsylvania. The band consists of lead vocalist and guitarist Jimmy Mattingly (played by Johnathon Schaech), drummer Guy Patterson (played by Tom Everett Scott), bassist T.B. Player (played by Ethan Embry), and guitarist Lenny Haise (played by Steve Zahn).
The story begins when Guy Patterson, an appliance store employee and drummer, is asked to fill in for the regular drummer of a local band, The One-ders (pronounced “wonders”), for a talent show performance. During rehearsals, the band performs a catchy original song written by Jimmy, “That Thing You Do!”, which becomes an instant hit with the audience.
Encouraged by their success, the band decides to record a demo of the song, which catches the attention of a local talent manager, Mr. White (played by Tom Hanks), who becomes their manager. With Mr. White’s help, The Wonders sign a record deal and embark on a whirlwind journey to stardom.
As their song climbs the charts and becomes a national sensation, The Wonders experience the highs and lows of fame, including performing on television, going on a national tour, and dealing with the pressures of success. Along the way, they encounter various challenges and conflicts, including tensions within the band and conflicts with their record label.
In the climax of the film, The Wonders are invited to perform at a major Hollywood awards show, where they are nominated for a major music award. However, tensions between the band members come to a head, leading to a breakup just before their performance. Despite the setback, the band’s journey comes full circle as they reunite for one final performance of “That Thing You Do!”.
The film concludes with each member of the band going their separate ways, but fondly remembering their time together and the incredible journey they shared.
“That Thing You Do!” is praised for its catchy music, charming performances, and nostalgic portrayal of the 1960s music scene. It captures the excitement and energy of the era while telling a heartfelt story about friendship, ambition, and the fleeting nature of fame.