Twenty-seven years after a group of childhood friends, known as the Losers' Club, defeated the shape-shifting, fear-feasting entity lurking in their small town of Derry, Maine, unsettling occurrences signal the return of the malevolent force. Now adults and dispersed far beyond their old stomping grounds, the members have mostly forgotten the horrors of their past and the promise they once made—to come back and confront the evil should it ever re-emerge. When a tragic event echoes the past traumas of Derry, Mike, the one Loser who stayed behind, places calls to his old friends, urging them to fulfill their blood oath.

Reunited in Derry, the group grapples with memories long-repressed and the shock of rediscovering the scars left by their childhood nightmare. As they confront their fears and the insidious being that stalks them, personal demons and unresolved issues threaten to fracture their united front. The Losers' Club must navigate both the physical labyrinth of Derry's underbelly and the psychological mazes of their own minds to find the strength they need to defeat an all-too-familiar enemy that feeds on their darkest fears.