Shares in Hybe fell sharply after turnout at a major comeback concert by BTS came in well below expectations, despite strong album sales and global streaming reach.
The free concert, held Saturday at Gwanghwamun Square, marked the group’s first performance as a full seven-member lineup since entering a hiatus in 2022 for mandatory military service. Around 104,000 fans attended, less than half of the expected 250,000.
Attendance Shortfall And Market Reaction
Hybe’s stock dropped 15.5% on Monday following the event. The company’s shares had climbed in recent months in anticipation of BTS’s return, their new album release, and the launch of a global tour.
The concert served as the opening event for the group’s 82-date world tour. It featured all members, including Jin, Suga, J-Hope, RM, Jimin, V, and Jung Kook, performing together for the first time in two years.
Streaming Reach And Crowd Measures
The event was streamed globally on Netflix across more than 190 countries. The broad availability of the livestream, along with strict crowd control measures, may have contributed to lower in-person attendance. Netflix is expected to release official viewership data later this week.
Strong Album Sales Despite Turnout
On the same day, Big Hit Music announced that BTS’s new album, Arirang, sold 3.98 million copies on its first day. During the concert, the group performed tracks from the new release alongside earlier hits such as “Butter” and “Dynamite.”
High Stakes For Hybe And BTS
BTS remains Hybe’s primary revenue driver. The company’s operating profit declined during the group’s hiatus, increasing reliance on the success of this comeback period.
Since BTS’s last tour ended in 2019, the global K-pop market has expanded, with increased competition from other acts including Blackpink, Seventeen, and Stray Kids.
Competition From New And Emerging Acts
Competition now also includes fictional entertainment properties. Kpop Demon Hunters has gained traction, with Netflix reportedly planning a world tour tied to the film. According to Reuters and Bloomberg, the tour could launch next year to promote a sequel.
Featured image credits: Wikimedia Commons
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