"Now You See It..." tells the story of what can happen when a reality TV show uncovers something that is not meant to be seen on television. Aspiring teen producer Allyson Miller (Alyson Michalka) signs up to produce a new reality show that is searching for the world's greatest kid magician. Desperate to find her star, Allyson (along with adult mentor Paul and kid cameraman Cedric) stumbles upon Danny Sinclair (Johnny Pacar), who proves to be her best shot at getting on the show. When Danny is selected as one of three finalists, Allyson is prepared to do whatever it takes to win. While the other two contestants, Brandon (Gabriel Sunday) and Zoey (Amanda Shaw), are good magicians, Danny appears to have something more. Even show host and master magician Max (Frank Langella) has taken a special interest in Danny's talent, although he is skeptical. When Danny confesses to Allyson that his powers are real, she is shocked but promises to believe in him. She feels they both have something in common since they have both never had any friends since they never had someone they could relate to, Allyson because of her brains and Danny because of his powers. Unfortunately, after an interrogation by Max and a panel of experts, highly reminiscent of Harry Houdini's and James Randi's similar investigations into claims of paranormal ability, Danny is apparently proven to be a fake. Betrayed, Allyson is upset with Danny and refuses to talk to him. However, when she views the video of how she first discovered Danny, she sees doves appear from nowhere and begins to believe in Danny again. When she goes to look for him, she hears voices through a door and goes into the next room to try to listen to what they are saying and begins to record it out of habit.
She is amazed to find that Max is confessing to Danny that he too is a real magician—a sorcerer. After Max demonstrates his talents, he promises to help Danny control his powers and be his mentor and gives him a ring. He tells Danny that whenever he wears the ring, Danny will be able to control his own powers. Danny puts it on and leaves the room. Allyson is about to leave when Paul enters. She is surprised and continues to listen. Shockingly, it appears Max wants to control Danny's powers through the ring, and as long as Danny wears the ring, he will slowly lose his powers by the final performance the following night.
Allyson rushes to try to find Danny, but she only manages to speak to him the following morning; by this time, Danny trusts Max too much. When Allyson tries to show the tape to the show's producer, Max, and Danny, Max uses his powers to erase the tape. The producer isn't convinced when she sees the blank tape. When she claims Max has done this, no one believes her. The producer asks her to leave, believing she has cracked under the pressure. Allyson leaves, upset because Danny did not stand up for her. On the train home, she realizes that this must have something to do with famous magician Antonio DeMilo, whom Max called his 'mentor.' When she researches this, she discovers that DeMilo died when a prop collapsed on him. She sees that he was wearing the ring Danny is now wearing and decides Danny is in grave danger.
Allyson manages to re-enter the grand finale of the show inside a magic 'box'. She warns Danny again, telling him that he can't remove the ring alone, he needs someone to remove it for him, but Danny has to rush on stage. Once on stage, Max tries to make a 1000 lb weight collapse on Danny, but Allyson's warning helps him escape. Danny and Max are then locked in combat; the audience thinks it is all part of the show. Allyson, unbeknownst to Danny, climbs in the box to help Danny but Max puts three swords in the box and with the third sword Allyson shouts. Danny goes to check inside the box but she disappears and some time later, there is a noise from the box and Danny opens and find Allyson in it. The disappearance and reappearance of Allyson acts as a threat to Danny from Max with Max asserting that he is in control. Nevertheless, Allyson is able to remove the ring from Danny, allowing him full control of his powers. Max causes Danny to fly in the air, but Danny manages to manipulate his flight and put the ring onto Max, who disappears. Allyson and Danny bow and Danny kisses Allyson's hand.
At the end of the movie, Allyson helps build the fourth wall again, as she does repeatedly as part of the narration, to say that Max must have had Paul remove the ring after the show because the tapes of the show soon disappeared. She continues to say they then reappeared in her room. She says Danny has gone into hiding to learn more about his powers and prepare for a future showdown with Max, and says even she does not know where he is. Then a popcorn bowl levitates from behind her and comes to her arms. She laughs and says that she does. She then disappears and reappears next to Danny, who seems in much better control of his powers. Startled, she asks what happened. Danny replies, "Magic." They laugh as she sits next to him with his arm around her shoulder, thus hinting at a romantic attachment. Danny takes off the top hat he's wearing, and the picture ends as it levitates towards the camera.
- Alyson Michalka as Allyson Miller
- Johnny Pacar as Danny Sinclair
- Frank Langella as Max
- Dremaceo Giles as Ron
- Patrick Hazell as Mr. Sinclair
- Brendan Hill as Cedric
- Chris Olivero as Hunter
- Andrea Ragsdale as Mrs. Sinclair
- Amanda Shaw as Zoey Cunningham
- Gabriel Sunday as Brandon
- Deneen Tyler as Ms. McCallister
- Spike Spencer as Paul
- Now You See It... is also the name of a novel by Vivian Vande Velde, published in 2005.
- Now You See It... was also the name of a word search game show that aired in the mid 70s (Jack Narz) and late 80s (Chuck Henry)
- Teen pop duo Aly & AJ sang a cover version of the song "Do You Believe in Magic" for the movie.
- Now You See It is the name of the 94th Chips Challenge level.
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