A Horror-bly Funny Comedy! Spencer has just inherited his father's film studio and thinks he knows better than his late father how to produce movies.
The studio specializes in horror films and their biggest star is Alexander Moreau, a Karloff/Price/Carradine sort in whose mansion this comedy takes place. Spencer has come to inform Moreau that he is not renewing his contract.
Moreau offers to demonstrate that he is still one scary guy. His proposition: if he can scare Spencer out of his wits, he gets a contract and creative control.