“Wow! This is cool!” response is frequently used by young people to express their approval and fond of objects, including digital products and services. Moreover, with the evolution of Internet and information technology, various media have promoted the emergence and development of diverse subcultures among the young generation who have their own lifestyles. ACG (Animation, Comic, and Game) is such an adolescent subculture which is fascinating to a group of young people, named Otaku. Danmaku video sharing website is an important social media for them to communicate, and reflects an obvious hedonic characteristic of usage. As young people are the main adopters of innovative products, when studying young people’s use of technologies, it is essentially important to involve the effect of coolness and subculture. In this paper, we posit that perceived coolness has a positive effect on young people’s use behaviour of Danmaku video sharing website, and ACG cultural identity moderates the effect. We also try to identify the potential quality related factors which can predict perceived coolness. A quasi-experiment is designed to test the research model and hypotheses.