In brief
The highly anticipated BTS comeback concert in Seoul drew only 104,000 fans, significantly less than the expected 250,000, leading to a 15.5% drop in Hybe's shares. The free concert, marking the first performance by all seven members since their military service hiatus, was live-streamed globally, which may have impacted in-person attendance. Despite the disappointing turnout, the new album from BTS, titled 'Arirang', sold nearly 4 million copies on its first day of release.
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 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 for mandatory military service.
It was attended by an estimated 104,000 fans, less than half 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 on Monday, shares fell by 15.5%.
The event marked the start of the band’s sold-out, 82-date world tour, which was also live-streamed on Netflix to over 190 countries. The streaming service is set to release viewership figures, which may indicate the impact of digital attendance on the physical turnout.
On the first day of its release, BTS's album 'Arirang' sold a remarkable 3.98 million copies, showcasing the group's market power despite the concert attendance disappointment.
With K-pop's global popularity surging since their last tour in 2019, BTS now faces fierce competition from other groups like Blackpink and emerging fictional competitors like the Kpop Demon Hunters.
As fan attendance fluctuates, the stakes remain high for both BTS and Hybe, who rely heavily on the boyband's success to drive their financial performance in the music industry.
