In brief
Shares in Hybe, the agency behind BTS, declined by 15.5% after the group’s comeback concert in Seoul drew only 104,000 attendees, far short of the projected 250,000. The concert, marking BTS's first collective performance since their military enlistment, was free and also streamed on Netflix. Despite successful album sales, the significant drop in expected attendance and the recent rise of competing K-pop acts raises questions about BTS's market position as they embark on a world tour.
Shares in Hybe, the company behind K-pop megastars BTS, have fallen sharply after a much lower number of fans attended their comeback concert than expected.
The free concert in Gwanghwamun Square in Seoul on Saturday saw all seven members - Jin, Suga, J-Hope, RM, Jimin, V, and Jung Kook - perform together for the first time since they went on hiatus in 2022 due to mandatory military service.
It was attended by an estimated 104,000 fans, significantly less than the quarter of a million that was expected.
Hybe's shares had risen in recent months ahead of the comeback tour and the release of their new album, Arirang, but fell sharply on Monday by 15.5%.
The event, marking the start of the band's sold-out 82-date world tour, was live-streamed on Netflix to over 190 countries, which may have impacted in-person attendance. Netflix is expected to release viewership figures later this week.
Despite the disappointing attendance, Big Hit Music reported that Arirang sold 3.98 million copies on its first day, and the group performed new tracks along with popular hits like Butter and Dynamite during the concert.
As BTS is Hybe's main source of income, the stakes are high for their ongoing activities, especially since they face growing competition from other K-pop groups and emerging entertainment ventures, including a potential K-Pop Demon Hunters tour from Netflix.
