Fan Funding for Films

Anyone have any thoughts on whether or not a sufficiently organized and fiscally transparent fan base could fund the production of (a) film(s)? There was a demonstration of the power of the consumer (fan) with the resurrection of the TV series Firefly as Serenity, but I wonder if this was just the tip of the iceberg. The current production model appears to be take a risk on pretty crappy, catch-all material and if it hits a nerve and generates enough residual value to offset alternative projects, make a sequel. Would it not make more sense to have fans pay up/invest first as a palpable demonstration of a ready market? Why wait for the dollars to come AFTER production with the sale of DVDs when it may be possible for people to pay a smaller amount early on with more powerful current value of money, generate interest and participation and hopefully free marketing to the target audience?

For example - what if every fan paid $2 towards a documented, visible, bonded pay-pay account dedicated towards providing a significant amount of funding for the production of a movie. In return for their investment, each investor would be guaranteed a DVD of the described project at cost and a pro-rated share of the profits (if any). Once sufficient cash had been raised the fund administrators (principals or 3 largest investors) would take the cash to directors/executive producers for the pitch? The pitch should be a lot more powerful with numbers of fans and dollars behind it.

This application of the mondragon cooperative system of fan funding makes sense to me, but I'm interested in other's thoughts. After all wouldn't it be better for GREAT films, be they sci-fi, drama, mystery, what-have-you, to be pushed by fans rather than pulled by mediocre marketing efforts.

keywords: Firefly, Mondragon, breasts [just kidding]