Research On Factors Influencing The Success Of Crowdfunding Of China' Cultural Industry

With the continuous deepening of China's market economy and the adjustment and optimization of industrial structure,the development of the cultural industry has been placed in a prominent position.The country has issued relevant policies to promote the supply-side structural reform in the cultural field,improve the overall competitiveness of the cultural industry,and promote the upgrading of national cultural consumption demand.Cultural content producers cover a wide range,including a large number of small and medium-sized enterprises and individuals.They are generally faced with the problem of lack of funds.Due to their weak strength,they cannot obtain financial support from traditional financing channels,which restricts the prosperity and development of cultural industry to some extent.Crowdfunding is a new form of financing combining finance and technology under the background of "Internet +".The fundraiser directly shows the project details to investors through the crowdfunding platform and seeks financial support from investors.Investors browse the project content and choose the projects they are interested in for investment based on their investment preferences and financial strength.In the process of project financing,the two sides carry out benign communication on the detailed design and development direction of the project,which reduces the information asymmetry and moral hazard of project financing.At the same time,the low investment threshold of crowdfunding projects has aroused the enthusiasm of the public and broken the limitations of traditional financing.The characteristics of small scale,creativity first and wide audience of cultural industry projects are in line with the concept of crowdfunding.Therefore,this paper focuses on the factors influencing the success of cultural industry crowdfunding projects in China,hoping to draw conclusions and Suggestions beneficial to the financing of China's cultural industry.This paper first read the domestic and foreign research results on the factors influencing the success of crowdfunding projects and the crowdfunding financing ofcultural industry,and established the content and direction of this paper in this process.Then introduces the raise and the cultural industry,raise the basis of the current situation of the development of the theory on the basis of the theory of bedding from domestic professional culture the four cases of the raised platform is analyzed,summarized the influence of cultural industry and the raise of project success eight factors,including the project sponsor number,project objectives,project financing amount update number,picture number,number of comments,return type,number of collection and support.Finally,396 project sample data were selected from the modian cultural and creative community for empirical test with binary Logistic regression analysis,and the influence of eight independent variables on the success of the dependent variable project was obtained.Based on this,relevant Suggestions were put forward from the three dimensions of project sponsor,crowdfunding platform and government supervision.