Akane-banashi follows Akane Ousaki, a girl who grows up spellbound by her father Tooru's rakugo performances and spends hours peeking through a sliding door, watching him perform and imitating his craft. Rakugo, the traditional art of solo storytelling, takes years of discipline to master, and Tooru is determined to reach the top rank of shinuchi through a promotion test before an audience and the senior rakugo master Isshou Arakawa.
When Tooru gives a passionate performance and is expelled from the rakugo school after the exam, he gives up on rakugo and settles for a regular job, leaving Akane heartbroken. Grief soon turns to resolve, and Akane decides to confront the man who refused to recognize the brilliance of her father's rakugo style. She asks Tooru's former rakugo master, Shiguma Arakawa, to take her in as a student, but Shiguma hesitates to accept another pupil after what happened six years earlier.
Instead of granting her request outright, Shiguma tells Akane to prove that she truly has the resolve to step into the rakugo world by performing in front of an audience. From there, Akane begins her own path toward mastering the art, driven by admiration for her father, anger at what he endured, and the determination to find out whether she has what it takes to stand on the same stage as the masters she has long admired.