There are some movies and TV shows being funded now without the 'majors', but the funding model hasn't really figured itself out yet. See Pioneer One for a sel

There are some movies and TV shows being funded now without the 'majors', but the funding model hasn't really figured itself out yet. See Pioneer One for a self/crowd funded 'TV' show which was released under the Creative Commons licence (and distributed legally via pirate bay, etc.). Sure the quality isn't 100% top notch, but the point is that it's starting. It's slow, but the ball is rolling now.