Footlights did not often do movie parodies. Instead, they did movie commercial parodies. Their fictitious Hollywood studio was called Sunny Day Pictures, a subtle ironic reference to the weather in Wooster.
The obsolete technology used was magnetic cassette recordings of life FM broadcasts in the early 90s, so quality is more Roger Corman than Kurosawa.
And if you got that reference, enjoy Footlights Presents Movies.