Struggling circus owner Max Medici enlists former star Holt Farrier and his children Milly and Joe to care for Dumbo, a baby elephant whose oversized ears make him the circus' laughing stock. But when they discover that Dumbo can fly, the circus makes an incredible comeback, attracting persuasive entrepreneur V.A. Vandevere, who recruits Dumbo for his newest, larger-than-life entertainment venture, Dreamland. Dumbo soars to new heights alongside a charming and spectacular aerial artist, Colette Marchant, until Holt learns that Dreamland hides dark secrets beneath its shiny veneer.