"Old Wave" is the story of a 1980s pop band named Magenta Nun, with one-and-a-half hits to its credit, and whose members reunite after 25 years to record a new album, and take part in a tour featuring "the cream of the mediocre crop" of bands from the New Wave era. Once the band is brought back to life, their founder and leader, Terry Kirkwood, finds himself excited, but conflicted. He's happily married, but the reunion has rekindled his unrequited crush on Magenta Nun's lead singer, Svetlana. And it isn't long before Terry sees her receive the lion's share of attention and accolades for the band's new and improved sound. Magenta Nun's comic mis-adventures are full of eccentric characters, snappy dialogue, and unexpected plot twists and turns, as the band forges ahead with its comeback.