The film stars Tim Curry (in his film debut), Susan Sarandon, and Barry Bostwick. It is narrated by Charles Gray, with cast members from the original Royal Court Theatre, Roxy Theatre, and Belasco Theatre productions, including Nell Campbell and Patricia Quinn.

The story centres on a young engaged couple whose car breaks down in the rain near a castle, where they search for help. The castle is occupied by strangers in elaborate costumes holding a party. They then meet the head of the house, Dr. Frank-N-Furter, a mad scientist and alien transvestite from the planet Transsexual in the galaxy of Transylvania, who creates a living muscle man named Rocky.