When Jerry, a man with a slightly paranoid belief about the effects of a power plant on his brain, attempts to sabotage the plant, he accidentally becomes magnetized. Unaware of his new condition, he visits his best friend Mike at the old-school video rental store where Mike works. The store is owned by the kind and elderly Mr. Fletcher, who is on a trip to research how to save the failing business. The video store is one of the last in the area that still carries VHS tapes instead of DVDs. Jerry's magnetization ends up erasing all the tapes in the store.

With Mr. Fletcher away and the future of the store in jeopardy, Mike and Jerry devise a plan to keep the business afloat. They decide to remake the erased movies using a camcorder and their imagination. Lacking the resources that big studios have, they rely on ingenuity and heart, creating hilariously low-budget versions of popular films. Their unique and quirky "sweded" versions become unexpected hits with the store's customers, offering a personalized touch that attracts a cult following. However, things get complicated when the studios that own the movie rights find out about their operation.