The Beatlemania museum, which has a collection of over 1,000 pieces of memorabilia, opened on the Reeperbahn strip in Hamburg in 2009. The site of the museum is located near the venues where the band played many of their earliest shows. Despite all this, the museum has had an estimated 150,000 visitors in the past three years, well below expectations of the museum owners.
"In view of the high deficits, there is no solution left but closure, if you want to act responsibily," museum manager Folkert Koopmanns told the German newspaper Hamburger Morgenpost. "A privately run museum as big as Beatlemania is condemned to fail without public support. That's a fact that we fought against until enthusiasm turned into resignation -- a bitter experience."