While it is a great idea, you might want to reconsider the fan frame setup.
I have one that grew to be a 80-100 pound monster that grew over the wire basket the past ten years. The wire has now rusted, and the chains attached are in danger of breaking. Since I live in a freeze zone area, I have to move it every fall into the garage, so the weight is now an issue. I plan on dividing it this year, and the problem will be cutting through the old wire when I divide it.
With your set up , the new fronds will grow through and cover the wire frame. If it is not stainless or aluminum, you might face the same rust problem I have in time threatening your hanging support.
For my next outdoor hanging specimen, I am considering some type of heavy duty non rusting hanging cage type frame. Will fasten some of my divisions inside the frame structure and let it grow outward. I won't have to worry about rust and future plant division will be easier.
