Core Viewpoint - The Beijing Madame Tussauds wax museum will permanently close on October 1, 2025, due to the expiration of its lease and brand strategy adjustments, with most wax figures relocating to other locations in China [1][5]. Group 1: Closure Announcement - The Beijing Madame Tussauds wax museum has announced its permanent closure, effective October 1, 2025, primarily due to lease expiration and strategic brand planning [1]. - Following the closure, most wax figures will be moved to other Madame Tussauds locations in China, while a few will be preserved [1]. Group 2: Financial Performance - Merlin Entertainments, the parent company of Madame Tussauds, reported a pre-tax loss of £492 million for 2024, largely attributed to asset value impairment, with the brand value of Madame Tussauds declining by £16.3 million [5]. - The high operational costs of the wax museum, including significant rent and production costs, contribute to its financial struggles [7][8]. Group 3: Operational Challenges - The cost of producing a single wax figure is approximately 1.5 million yuan, and the annual rent for a 3,000 square meter venue in a prime location can exceed 10 million yuan [7]. - The museum's revenue model relies heavily on ticket sales, which have been adjusted from nearly 200 yuan to a promotional price of 99 yuan, indicating challenges in attracting repeat visitors [7][8]. Group 4: Market Trends - The decline in visitor frequency and the perception of low value for money are significant factors in the museum's struggles, as many visitors feel that the experience does not justify the cost [8]. - The traditional model of static celebrity displays is seen as outdated in the context of the current short-video era, leading to decreased engagement and repeat visits [8].