The story is set in the unspecified, vaguely Orwellian future. Earth's name has been changed to Planet Mall. As the name would suggest, mainstream commercial conformity reigns. Everywhere on the planet, people watch the same movies, listen to computer-generated music, wear the same clothes and hold the same thoughts and opinions. Musical instruments and composers are forbidden, and rock music is all but unknown. Representative government has been eliminated. All are controlled by the Worldwide mega-corporation Globalsoft, which is headed by the "Killer Queen" and the commander of her secret police, the evil Khashoggi. Those who dare to stand against Globalsoft's enforced conformity are kidnapped and "brain stormed" into submission.
However, a small group of "Bohemians" struggles to restore the free exchange of thought, fashion, and (most of all) live music. As with the classic quest stories that it spoofs, the musical includes both a Messiah figure, the social outcast Galileo Figaro, and a MacGuffin that will restore freedom, the lost guitar of Queen guitarist, Brian May.
Together with his love interest, another dissident whom Galileo calls Scaramouche, Galileo joins with the Bohemians to find the guitar, and overthrow Globalsoft. However, when the Bohemians are captured and brain stormed, Galileo and Scaramouche are forced to flee for their lives.
Eventually they meet Pop, an older, hippie-esque Bohemian who yearns for the "old days" when people were free and Rock & Roll was king...or Queen as the case may be. Again fulfilling the classic role of "Guide" for the two, Pop shows them a fragment of the Queen video (which ends after the opening lyrics), "Bohemian Rhapsody," further inspiring them. Impressed by the “heavenly music,” Galileo and Scaramouche eventually decide to search for the guitar at Wembley Stadium, the location of two legendary concerts by Queen. Though the Stadium is a ruin, they find the guitar hidden in a wall. With guitar in hand, and Pop serving as "roadie" for the two saviors, they perform a rousing rendition of the title song, "We Will Rock You," and conclude with a marvelous arrangement of "Bohemian Rhapsody."
Played for laughs, there is very little real story to We Will Rock You. While the musical is a spoof of the classic quest tale with some moments of clever dialogue, it exists predominately as a framework allowing a vocally talented cast to perform covers of Queen's greatest hits. Songs included in the production may vary from theatre to theatre, but generally include favorites such as "Another One Bites the Dust," "Hammer to Fall," "A Kind of Magic," and more.