This is one of the most common questions in screenwriting and literature. Some believe that the terms are interchangeable while others can’t grasp the difference.
Here's the difference: A THREAD
Story Covers the Who, What, and Where:
When a killer shark unleashes chaos on a beach community, a local sheriff, a marine biologist, and an old seafarer must hunt the beast down before it kills again.
That’s the story of Steven Spielberg’s Jaws.
So if anyone asks you want your story is about, the logline is a great place to start. It covers the basic elements of your story. It doesn’t go into detail about how, when, and why everything happens. That’s saved for the plot.
Plot Covers the How, When, and Why:
It's generally a more detailed treatment of the story, from start to finish (about one page long). We have an example for Jaws here: screencraft.org/2021/02/19/plo…
Thanks, @KenMovies
"Plot" gives us more details than "story". All of the questions of who, when, and why are answered within a plot breakdown. Stories can be told in many different ways. And it is the plot that works as a structural tool to be able to do that.
So, to sum it all up:
The story is about the who, what, and where within your concept.
The plot is about the how, when, and why everything within that story happens.
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There are four different types of true stories that #screenwriters can research, develop, and write. And each of them comes with its own freedoms, restrictions, constraints, and benefits.
“Based on” a True Story:
The characters, storylines, and most scenes are primarily based on actual occurrences. There are creative liberties taken for sure, but most of the depictions within the script are based on what actually happened and how it happened.
Films like Schindler’s List, The Right Stuff, Lincoln, 127 Hours, and Apollo 13 are excellent examples of screenplays that did their best to depict the actual true stories.