With rapid development of Internet technology，we have witnessed the radical changes from Web 1.0 era to Web 2.0，which enable users to gernerate content and interact with webpages online，a shift from conventional model. Hence the phenomenon of crowfunding arises at this historic moment. Different from traditional financing model，crowdfunding is an outcome of development in fundraising business activities under an Internet context. Crowfunding provides a new school of thoughts in terms of financing model for cultural industry，organically combining cultural industry with the development of Internet. This paper will introduce and explain and the concept of crowdfunding by analyzing some overseas classic crowdfunding cases. Besides，it takes music crowdfunding as the research subject. Take the example of a developed music crowdfunding websites called Musikid，we analyzed the profound influences that crowdfunding model brought about to audiences（fans），musicians and the music industry etc. Meanwhile，we make comparisons among some mature foreign music crowdfunding models and take a deeper look into the localization of Chinese music crowdfunding. At the end，this paper will also look towards the future development and potential of music crowdfunding model.