Mercedes works as a cabaret performer to pay for her sister's studies. Problems begin when Mercedes and Paco, her exploiter, win a dance contest, but he refuses to share the prize with her.
Aldo and his girlfriend Lucy reopen an abandoned opera house, but find out that the place is inhabited by a group of Phantoms wearing the Claude Rains 1943 Phantom of the Opera costume.
To conquer the beautiful vedette Rosita, journalist Tin Tan is subject to her whims. Fired along with his friend Narciso from the newspaper they worked, Tin Tan trying to sell a movie plot. A woman looking to buy it and Tin Tan will visit her in a gloomy mansion where a mess is unleashed.
