It's Why I Joined/Support OTW Week over at otw_news. Although I am not on the board or any committee, I have donated so I feel I can say that I do support the OTW. If you are new to the Organization for Transformative Works, it's a Non-Profit group of fans that have organized to provide "services" to fans like an Archive for fanfiction, vids and art, a Fan History wiki and an academic journal. Please check out their website and their LiveJournal community for tons of info. The archive will allow fic only when it opens, with vids and art added in the future. I read and enjoy fanfiction, but I really love vids, so I can't wait for vids to be added to the archive along with the fic!
If you want an AO3 invite there is info available here.
ETA 10-4-08: The archive is in Open Beta! Anyone can get an account and post their fiction now! You can find the fan wiki here. Anyone can edit the wiki after making an account. The academic journal can be found here.
ETA 6/14/10: The OTW has released their Vidding Archive Roadmap!! There are lots of exciting projects in the works. My account with the AO3 is RDphantom.
ETA 10/14/11: The AO3 now allows embedding streaming video into works posted! So even though vids aren't directly hosted by the AO3, you can still post them to the AO3. There are currently 625 vids posted to the AO3, and at least two Collections dedicated to vids: Vividcon and Festivids.
There are currently fanworks listed in the following Gerry fandoms:
The Phantom of the Opera
P.S. I Love You
Reign of Fire