Under the new development pattern of “dual circulation”, digital cultural consumption formed by the popularization of digitization, networking, and intelligence has occupied an important position in cultural consumption. It plays a significant role in promoting economic growth, driving the upgrading and transformation of the cultural industry, and achieving high-quality development. Using panel data from 28 provinces in China from 2015 to 2020, this study employs a two-way fixed effect model to comparatively analyze the characteristics of digital cultural consumption and its influencing factors. The results show that income level, supply level, internet development, and innovation level have significant positive effects on digital cultural consumption. There is a significant negative correlation between fiscal expenditure and digital cultural consumption. Regional differences exist in all factors among the eastern, central, and western regions. Consumers’ subjective performance and price perception positively influences digital cultural consumption. Based on the research findings, corresponding countermeasures and suggestions are proposed to achieve sustainable development of digital cultural consumption and accelerate the construction of the dual circulation system both domestically and internationally.