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Wiktionary
microcinema

n. 1 (context countable English) A specialist cinema showing films that are unlikely to be screened at more populist venues. 2 (context uncountable English) amateur filmmaking on a low budget.

Wikipedia
Microcinema

The term Microcinema can have two meanings. It can describe low-budget or amateur films shot mostly on digital video, edited on a computer, and then distributed via videotape, disc or over the Internet. Or it can describe a mode of low-budget exhibition—a small theater or screening series operated in order to show small-gauge filmmaking, artists works, shorts, and repertory programming.

Microcinema is a flexible term that can cover anything - micro movies, animated shorts, bizarrely impressionistic video manipulations, hard-hitting documentaries, and garage-born feature-length movies. A classic microcinema offering is a film that probably would not exist if new technology hadn't allowed its creators to cut costs or inspired them to try something different.