In the era of new economics, motion picture industry has been the key industry for development worldwide. It is so risky in film investment and produce process that most film capital markets confronts market failure problems. In view of that fund raising is the most important and difficult point in motion picture industry development process, this study investigated main causes of film capital market failure. This is useful for understanding how film capital market and independent producer overcome information and agent problems in film financing, make market mechanism work, and collect funds. This study specifically investigated representative Taiwan cases raising funds from international capital market successfully. The results are useful in understanding key factors and operation mechanisms in film capital market building, and as reference resources in government and financial industry policy and motion picture industry development.