Volume Three begins with an exploration into the Nightmare on Elm Street series (only up to Part 5 at the time of the show). It covers the idea that dreams offer limitless possibilities for horror movies to explore. A brief synopsis to each Elm Street is given, along with the issues the protagonist much face in each. The show shifts back to exploring special effects in the genre. Some behind-the-scenes footage to Night Angel (aka Deliver Us From Evil) and Halloween 4/5 is shown, where we see Greg Nicotero (of KNB EFX) and crew working their magic. The third segment explores the cut throat business of low budget horror. It features interviews with two experts in the area: directors Charles Band and Fred Olen Ray. They discuss several areas of the business, including: the video rental market – in particular the shift from theatrical releases to direct-to-video, the cheaper cost of shooting movies overseas, and how they went to making movies for themselves instead of someone else. Clips shown include Nightmare on Elm Street (1,2,3,4,5), Night Angel, From Beyond, Trancers, Biohazard, The Tomb, and Beverly Hills Vampires.