China’s Film Crowdfunding:the Influencing Factors Of Financing Results

Crowdfunding is a financing mode which means raising fund(large scale but small amount)through online platform and offering returns to the investors.As one of the earliest industries to adopt this kind of method,now the film industry is still one of the industries where crowdfunding is most widely used.Under different policies and market force,China‘s film industry has been more and more integrated with Internet.Film crowdfunding has become a new financing method for film companies,especially small-scale film producers.Besides,film crowdfunding can help publicize and do market research,as well as promote the vertical extension of China‘s film industry chain.This research talks about the development of China‘s film crowdfunding industry and some famous film crowdfunding cases in recent years,as well as analyzes the functions of film crowdfunding and its financing results.The research does an empirical study about the influencing factors of film crowdfunding‘s financing results.Most of the existing papers are focused on qualitative things,while this research does the empirical study based on samples collected from two famous crowdfunding platforms,Dreamore and Zhongchou.And the study contains the content of returns,which has rarely been involved in other existing studies.The results of this empirical study shows that factors such as financing goals,project nature,content of returns,information quality and amount setting will influence the financing results of film crowdfunding projects.At last,this research discusses about some shortcomings and related mechanism design,and put forward some specific suggestions about the responsibilities of crowdfunding platform and the special nature of film crowdfunding.