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 to enlist for 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. However, on Monday, shares fell by 15.5%. The event marked the start of the band's sold-out, 82-date world tour, which was live-streamed on Netflix to over 190 countries. This potential viewership, combined with strict crowd control measures, may have affected in-person attendance. The concert featured performances of songs from their new album, alongside major hits like 'Butter' and 'Dynamite'. Despite the setback, the stakes are high for both BTS and Hybe as K-pop continues to grow globally, presenting increased competition from other K-pop groups and media properties, such as Netflix's planned 'KPop Demon Hunters' world tour.
BTS Concert Attendance Falls Short, Leading to Drop in Hybe Shares
BTS Concert Attendance Falls Short, Leading to Drop in Hybe Shares
After a disappointing turnout at BTS's comeback concert, shares in their agency Hybe have plunged significantly.
Shares in Hybe, the company behind K-pop sensation BTS, have seen a significant decrease following a lower-than-expected turnout at their recent comeback concert. The free event held in Gwanghwamun Square, Seoul, was attended by approximately 104,000 fans, far fewer than the anticipated 250,000. The concert marked the return of all seven members after a hiatus for military service, and while it was streamed live on Netflix, the attendance fell short of expectations, leading to a 15.5% drop in Hybe's stock price.
