Georgie is dared to be in basement by Bill, after success he make boat paper for him. He plays it on the road during raining, it slips into the sewer. He meets clown in sewer, he try to convinces him and finally drag him down the sewer.
In 1989, Mike works in the barn. He doesn’t like much his job, one day while he send the meet he see something lurking in the dark.
At school Billy is bullied by senior. They also talk bad about Georgie. He stills obsess for what happen to Georgie, his parent try to tell him that he’s gone.
While Beverly also bullied by another girls, she doesn’t care she makes friend with new kid, Ben. When Stan walks pass the pa inting, it suddenly fell down. He found that the painting is missing, when he turned around it shows up at front of him. He run out quickly as possible.
While Ben is in library, after read about tragedy in past about children has his head cut. He starts to see headless man walking to him, he run out and meet the bullied. He run off in the forest and run to the river.
Billy and friends still looking for Georgie, they go to she sewer drain out to find about it. They decides to enter the sewer, they found one of missing girl’s shoe. They think they might found her in there.
Ben shows up nearby, they help him out. One of bullied follow him down there and enter the sewer, Instead found Ben he is killed in sewer by the clown.
They go to grocery to buy something to fix him, they meet Beverly there. She helps them out so they can leave without paying.
Ben hang out with Billy and his friends, Beverly also join them later. Ben tells them what he found, seem their town has more missing people than the other.
One day while Eddie walks back home, he pass the abandon house. It open its door to invite him in, then he is chased by zombie to the house. He spots the clown, he try to get him join him.
Beverly heard some voice down from the sewer, she try to check inside then she almost pulled in the sewer. Her father shows up after heard the scream but he didn’t see anything.
That night Billy spots Georgie in the house, he is following him to the basement and found him. He try to convince him to be with him, the clown also show up. Billy run out before he is captured.
Billy and his friends start to confirm about clown that they saw, they spot Mike is bullied. They decide to help him out, they win the rock war with them.
Mike tells them about curse of town, they think they see what they afraid most. They starts to look about what happen with well house. Then the clown shows up from the film, they all freak out.
Billy decides to find Georgie at the abandon house, he thinks Georgie is there. His friends try to stop him, he instead convince them to join him.
While inside they see one of the missing kid, while they following him Eddie separated with other. Richie also separated from Billy, but before he is attacked by the clown Billy save him on time.
Billy and Richie try to save Eddie from the clown, the rest of his friends show up and help him out. After that they run out from the house, Billy see the clown descending in the well in house’s basement.
After leave house Billy and friends start to fight each other, most of them don’t want to get in that house again. But Billy wants to get Georgie back from it.
After Beverly fights with her step father, the clown abducts her. Billy goes to her house and looking for her and found that.
Billy goes to ask help from his friends, they rush back to abandon house again. They decides to go in together.
Beverly wakes up and found herself in the sewer, she see all missing people floating up. Then the clown shows up and grab her.
During down the well, Stan lost from his friends. They found him attacked by woman in portrait. They chase her out, Stan freak out, Billy see Georgie running. He is following him and found Beverly.
He try to following Georgie and left Beverly behind, his friends following him and see Beverly. Ben wakes her up from floating.
His friends follow Billy and found Georgie talk with him, but Billy knows that he’s not him. After knock him down, he turns back to clown.
They try to take it down, but it grab Billy. It tells them to leave him, it will spares them. But all of them deny and want to help him, they take it down.
They push it down the well. Billy tells him that he failed because they didn’t afraid him anymore. The missing kids start to float down.
After that they make the vow that if it back, they will all come back to fight it again.