Core Viewpoint - The article discusses the recent failure of the large-scale performance project "Only Emei Mountain," which has accumulated losses of 600 million yuan and was officially announced to be suspended as of June 15 this year. This situation reflects a broader trend of popular cultural tourism projects facing operational challenges and declining visitor numbers [5][13][21]. Financial Performance - The performance project "Only Emei Mountain" has been operating at a significant loss since its launch, with the parent company, Yunshang Travel Investment, reporting total losses of 600 million yuan [5]. - The financial data for Emei Mountain Yunshang Tourism Investment shows a revenue of approximately 84.66 million yuan and a net profit of -161.38 million yuan for the current period, compared to previous figures of 378.24 million yuan in revenue and 588.97 million yuan in net profit [6]. Industry Trends - There is a noticeable trend of popular cultural tourism projects, such as "Wenheyou" in Changsha and "Bailuyuan Folk Culture Village" in Shaanxi, experiencing a decline in visitor numbers and operational viability, with some projects closing down entirely [11][13][18]. - The article highlights that many of these projects initially attracted large crowds but failed to convert that foot traffic into sustainable revenue, often relying on a "photo economy" rather than genuine consumer spending [16][18]. Consumer Behavior - The article emphasizes that the majority of visitors to these cultural tourism projects are primarily interested in taking photos for social media rather than engaging in spending, leading to a disconnect between visitor numbers and revenue generation [16][18]. - The shift in consumer preferences towards authentic experiences and local culture is noted, with younger generations showing a willingness to spend on genuine cultural experiences rather than superficial attractions [24][26]. Recommendations for Future Projects - The article suggests that future cultural tourism projects should focus on creating authentic content and experiences rather than merely replicating successful models from the past. Successful projects should engage with local culture and community rather than relying on transient trends [21][24]. - It is recommended that operators prioritize long-term management and community engagement over short-term gains, emphasizing the importance of operational details and customer experience in retaining visitors [26][28].