Crowd-funding is a new way of financing in the field of culture and media in recent years. It goes beyond the level of simply raising capital and linking the interests in different dimensions such as finance，social capital and external resources. The combination of “Crowdfunding- Investment-loan” model is considered as the most suitable means for media and culture industry，with risks varying in different stages of development. This chapter discusses the phenomenon of cultural crowdfunding in the framework of its development history，combined with typical cases and applications in the field of culture and media，and analyzes some problems，future trends，potential risks and strategies to cope with them.