Radio station W.H.Y. owner Spud Miller (Jack Oakie), also functions as the station’s only announcer while his comic partner Smiley Goodwin (Henry Wadsworth) serves as the house singer, Lochinvar, The Great Lover, “the idol of millions of women.” Both Spud and Smiley play the role of Lochinvar. Facing the prospect of bankruptcy, Spud welcomes the suggestions of George Burns and Gracie Allen, who attempt to sell an invention, The Radio Eye, invented by Gracie Allen’s uncle, a television device which can pick up and transmit any signal, any time, anywhere. Burns and Allen ask Miller for an advance of $5,000 for the invention. Spud decides to enter an international broadcast competition with a prize of $250,000.
Ysobel listens to the Lochinvar radio show and believes that he has sent her a letter. She finds out that he sends letters to listeners of the show. Outraged, she goes to the radio station to shoot Lochinvar. Spud and Smiley are able to win her over after her gun fails to shoot. They attempt to convince her to invest $5,000 in The Radio Eye invention which would allow them to win the competition. She takes Spud and Smiley to her Caribbean island, Clementi. She will decide to marry one of them before midnight. Gordoni (C. Henry Gordon), however, plans to murder them. Spud and Smiley are able to notify George Burns and Gracie Allen in New York and inform them that they are in grave danger. Burns and Allen then depart for the island on a boat. Gracie sets a fire on the boat. A Coast Guard cutter takes them on board and heads for the island. Gordoni has Drowzo put in the drinks to put Ysobel to sleep. Spud and Smiley turn on The Radio Eye to listen to the Vienna Boys Choir and the Ray Noble Orchestra from New York to distract Gordoni and his men. Spud and Smiley are able to escape on coaches with teams of horses. After a chase, during which Spud is separated from his horses in a bifurcation in the road, they reach the pier where the Coast Guard and Burns and Allen meet them. Gordoni jumps into the sea. Spud wins the international broadcast competition. Spud tells Ysobel that he may marry her after a period of observation. She tells him: “Let this be the start of a beautiful friendship.”