In brief
Hybe, the agency behind global K-pop sensation BTS, has seen its stock prices drop by 15.5% after the group's anticipated comeback concert at Gwanghwamun Square in Seoul attracted only 104,000 attendees, far below the expected 250,000. The concert marked the first performance by the full group since their hiatus began in 2022 due to military commitments. Despite the disappointment in attendance, BTS's new album 'Arirang' sold nearly 4 million copies on its first day, illustrating the ongoing strong demand for their music amidst rising competition in the K-pop landscape.
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, in order to enlist 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 and was live-streamed globally on Netflix to over 190 countries. However, strict crowd control measures may have impacted in-person attendance, and Netflix is set to release viewership figures soon.
BTS's new album 'Arirang' sold an impressive 3.98 million copies on its first day, showcasing the enduring popularity of the group despite fierce competition from other K-pop acts and bands like Blackpink.
Given that BTS is Hybe’s primary source of revenue, the stakes are high for both the band and the agency, particularly as they navigate a changing global music landscape.
