Hacker Cinema
Kung Fury 2
Film
Part of Kung Fury Collection
Directed by David Sandberg
1985. Miami is kept safe under the watchful eye of Kung Fury and his Thundercops, the ultimate police force assembled from across history to defeat the villainous Kung Fuhrer, Adolf Hitler. After the tragic death of a Thundercop sees the group disband, a mysterious villain emerges from the shadows to aid in the Fuhrer's quest to attain the ultimate weapon. Kung Fury must travel through space and time to save his friends, defend the prestigious Miami Kung Fu Academy and defeat evil once and for all.
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The best example I can think of is already mentioned up-thread, but just to drill down on that. Kung Fury[1] was initially released on Youtube (and a few other services, mostly in other countries I think) and became a pretty big viral hit. Enough so that the filmmaker eventually signed a deal to make a sequel[2] with distribution by a traditional film company and some big-name stars. Unfortunately the release of the sequel has been held up for "legal reasons" and FSM only knows when or if it will see the light of day. :-(
Anyway, not as big as BWP, but still a decent example of the concept under discussion, I think.
[1]: https://en.wikipedia.org/wiki/Kung_Fury
[2]: https://en.wikipedia.org/wiki/Kung_Fury_2