Caz Ripley, a 49-year-old café owner from Yorkshire, England, boards the RMS Atlantica in Southampton with her boyfriend, Pete Davenport, for a transatlantic crossing to New York. Pete is relaxed and enthusiastic; Caz feels anxious. When Pete suggests visiting the ship's casino after dinner, Caz refuses, revealing that her father had a severe gambling addiction. He embezzled from the veterans' charity where he worked, and the afternoon before he was due to report to the police, he took his own life. That night, they fall asleep together. When Caz wakes the next morning, Pete's side of the bed is empty and cold.
Caz searches the ship and finds it completely deserted. Every cabin door is wedged open, rooms empty, luggage gone. The lifeboats remain tethered and untouched. On the bridge, GPS maps show the Atlantica locked on autopilot at 29 knots. She attempts a Mayday call but receives no response. The only trace of Pete is his watch on the bedside table, which she straps to her wrist.
Searching crew-only areas on a lower deck, Caz discovers Daniel Cho, a Korean American water sports instructor in his mid-thirties. Daniel received a free ticket from the Atlantica in exchange for delivering lectures on sustainable living. In the library, they find Francine Pepperdine, a 21-year-old philosophy student from Swansea who traveled with her parents for their silver wedding anniversary. A fourth person reveals himself: Smith, a combative vending machine businessman in his sixties from North Carolina, who was traveling with his companion John. He has already looted the ship's jewelry store.
Conditions deteriorate. All electrical power shuts off, and Caz discovers that every watertight door sealing the food storage compartments is locked. The group has almost no accessible food or fresh water. Daniel reports the engines are still running but all systems are dead. The group builds a bonfire of deck chairs on the bow deck. Over the following days, they scavenge only scraps. Frannie discovers a kennel housing 12 abandoned dogs, which no owner would voluntarily leave behind.
On the fourth evening, a TV switches on in the Ocean Lobby, displaying the lower half of a woman's face. She introduces herself as "Admiral," the show's host, and informs the group they are being broadcast live around the world. She reveals the show's format: four personal challenges labeled Air, Water, Body, and Mind. Completing a challenge keeps a contestant eligible for the $5 million grand prize. Under a 60-second deadline, the group assigns challenges: Smith takes Mind, Caz takes Water, Daniel takes Body, and Frannie takes Air.
Smith's Mind challenge locks him in the library with a cryptic crossword puzzle. He deciphers clues hidden in bookmarked volumes and assembles the answer:
The Hitchhiker's Guide to the Galaxy, leading to Maintenance Room Forty-Two, where reward boxes contain small supplies and photographs proving the other passengers were safely disembarked at Cork.
Caz's Water challenge requires her to jump from the pilot hatch, a low opening on Deck Three normally used for harbor pilots, into the moving sea. Waves slam her against the hull and push her past the rescue pontoon, but Smith throws a fishing net from the stern. Daniel and Frannie help haul her aboard.
Daniel's Body challenge is the most harrowing. He must climb a sabotaged rock wall, ride a zip line into the pool, and retrieve a key from the deep end. As he dives, the hard pool cover slides shut, trapping him underwater. Daniel struggles, then goes limp. The screen cuts to a paywall message. Held overnight, the group finds the pool cover still sealed when released the next morning. They build a shrine for Daniel, believing he drowned.
That evening, the Admiral appears in person, introducing herself as Michelle. She has been on the ship the entire time in a hidden studio on Deck Zero, a subdeck concealed from all deck plans. Expelled by the producers, Michelle reveals the uncensored show is available only on the dark web, a hidden part of the internet, and paid for with cryptocurrency, a form of anonymous digital currency. The producers' true goal is accelerating mainstream adoption of these platforms. Michelle explains the concept of a "red room," where anonymous viewers pay to watch someone die in real time, and tells the group she believes the ship has become one. Viewer suggestions, she warns, directly influence conditions aboard.
The group receives phone messages from loved ones. Caz hears from her sister, Gemma, who urges her to win the prize to pay off their father's debts. A fishing trawler responds to Pete's Breitling watch distress signal and approaches but catches fire and sinks. When the group launches a lifeboat to help, it also sinks.
The Air challenge instructs Frannie to climb the ship's 191-foot mainmast. Terrified of heights, Frannie exercises her right to nominate another passenger and chooses Caz. Caz climbs the mast in a storm, past greased rungs and taunting messages, and retrieves the key card. When the group returns, Frannie is missing. They find her on the port-side railing. Caz pleads with her, but Frannie's expression is blank. She steps off the ship, leaving behind a note: "I love you, Mum, Dad. And I'm sorry I didn't tell you. I couldn't do this anymore."
Smith finds a key labeled "Ballroom" that Michelle left in their bathroom. Behind the sealed doors, Caz and Smith see what appears to be a mound of bloated bodies on the dance floor, rats swarming over them. They flee. Caz concludes Pete is among the dead and decides they must abandon ship. She lashes together life vests and packs supplies in waterproof bags. The Caucasian shepherd dog, released from the ship's kennel, attacks Caz before Smith drives it back with a fire extinguisher. At the bow railing, Caz asks Smith's real name: Walter. She holds his hand, and they step off together.
They separate on impact. Walter's fingertips break the surface briefly and disappear. Caz floats alone through the night, reflecting on her father and the daughter she gave up for adoption at 17. She addresses her father: "I understand now. I forgive you." Near dawn, a phone rings, and a voice declares her the winner of Atlantica.
A boat returns Caz to the ship. On the bow deck, Daniel walks out alive. Walter appears beside him. Frannie, whose real name is Jen, reveals that she and Daniel are professional actors. The bodies in the ballroom are elaborate props: dummies with synthetic aromas designed to attract certified rats. Walter is rescued by underwater divers immediately after his jump. Daniel has diving gear supplied as soon as the paywall appears on screen. Deck Zero houses a full production team, including ex-navy divers, medics, and an attorney.
Pete arrives the next day, explaining that a stampede of panicked passengers swept him from their corridor during the staged evacuation. He spends days trying to extract Caz. She splits her prize with Walter, refuses all interviews, and tells Pete she wants to return to Yorkshire, pay off her father's debts, and run her café. Pete books first-class tickets home. Over Greenland, Gemma texts a childhood family photo. Caz goes to the restroom. When she steps back out, the cockpit door is swinging open. The first-class cabin is completely empty. Pete is gone. "There is no one else on this plane."