Shares in Hybe dropped sharply after attendance at BTS’s comeback concert fell below expectations.
The free event, held on Saturday at Gwanghwamun Square, marked the first time all seven members—Jin, Suga, J-Hope, RM, Jimin, V, and Jungkook—performed together since their 2022 hiatus for mandatory military service.
An estimated 104,000 fans attended the concert, significantly lower than the anticipated 250,000.
Shares in Hybe had risen in recent months ahead of the group’s comeback tour and the release of their new album, but on Monday they fell by nearly 15%, hitting a four-month low.
The decline reflects investor concerns following the lower-than-expected turnout despite strong anticipation for BTS’s return.
The event marked the beginning of the band’s sold-out, 82-date global tour and was streamed live on Netflix to audiences in more than 190 countries, including South Korea. This wide accessibility, along with strict crowd control measures, may have contributed to the lower in-person turnout. Netflix is expected to release official viewership data later this week.
On Saturday, Big Hit Music—the label owned by Hybe—announced that Arirang had sold 3.98 million copies on its first day. During the concert at historic Gwanghwamun Square, BTS performed tracks from the new album alongside popular hits such as “Butter” and “Dynamite.”
The stakes remain high for both BTS and Hybe, as the group is a major source of the company’s revenue. Hybe’s operating profits had declined during BTS’s hiatus.
Meanwhile, K-pop’s global popularity has continued to grow since BTS’s last tour in 2019, increasing competition for fan attention. Rival groups such as BLACKPINK, SEVENTEEN, and Stray Kids are among the key competitors, along with fictional acts like K-Pop Demon Hunters.
Netflix is reportedly planning a world tour tied to K-Pop Demon Hunters, as it looks to expand the success of what is said to be its most popular film. The tour could take place next year to support a sequel, according to reports from Reuters and Bloomberg.
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