The financial system has emerged as a pivotal enabler in facilitating the high-quality advancement of the cultural industry. Based on large-sample data and typical case studies, this paper systematically examines the financing status of various subsectors within the cultural industry. The research finds that debt financing remains the dominant form of financing for Chinese cultural enterprises, with significant differences in financing capacity and capital structure across subsectors. There is a prominent mismatch between traditional credit models and the actual needs of the industry. Furthermore, this paper discusses the commonalities and distinguishing features of financial support for the cultural industry in the United States, France, South Korea, and China, introducing China’s practices and explorations in this field. The comparison also helps to identify areas for improvement in China. Building on this analysis, the paper constructs a theoretical model for financial support to the cultural industry, proposes a multi-level financial support system, and advocates for improving the intangible asset valuation system and innovating financing models. This research provides theoretical insights for promoting the deep integration of financial resources and the cultural industry, as well as systematic support for the high-quality development of the cultural industry.