While I do like the general idea, I'm afraid nobody would be bothered to vote. Well, maybe if there was a prize for voting, that would change.
And I actually have an idea of what the prize could be: the winning movie (to watch in your appartment) if it's yours or the one you voted for. (Come to think of it, the winning prize could be changed for that even now, without any change to the voting procedure; it would not unbalance the game, and yet it would be more fun than your money back. And yes, I know you can watch it even now, but then you can't sell it - the prize would allow that.) This would require lowering the number of votes for amateur movies to one per day. On the other hand, retaining all the winning movie's attributes could make people to only vote for VD movies...
There's another issue, though: the movies entering the contest just before it ends would stand no chance of winning. So the contest must be shifted from the movie submission, i.e. movie was submitted on Tuesday -> it'd be voted on on Wednesday. This increases turnaround time.