BTS Concert in Gwanghwamun Draws 104,000 Attendees; HYBE’s Stock Plummets 15.5%

K-pop supergroup BTS held a stage performance in Seoul’s Gwanghwamun Square with all seven members together for the first time in four years since their hiatus for military service. However, the stock price of their agency, HYBE, dropped sharply due to attendance numbers that were significantly lower than expected.

BTS conducted a free concert on March 21 in Gwanghwamun Square. Jin, Suga, J-Hope, RM, Jimin, V, and Jung Kook appeared on stage together for the first time since taking breaks in 2022 to enlist in the military. Approximately 104,000 fans attended this concert.

The police had previously estimated that 250,000 people would show up. The actual attendance was more than half below that forecast. Big Hit Music, which organized the event, implemented strict crowd control measures while simultaneously streaming the performance to 190 countries worldwide via Netflix.

The lower-than-expected on-site attendance appears to be due to the global Netflix broadcast and rigorous safety protocols. Netflix is set to release viewing statistics by the end of this week.

Market reactions were negative. HYBE’s stock dropped 15.5% on March 23, the first trading day two days after the concert. BTS and the company had high expectations, as HYBE’s operating profits had declined significantly during BTS’s extended hiatus.

This concert marked the start of BTS’s 82-show world tour. On the day of the performance, Big Hit Music announced that their new album “Arirang” sold around 3.98 million copies on its first day. BTS performed not only tracks from the new album but also previous hits such as “Butter” and “Dynamite”.

Meanwhile, competition in the global K-pop market is intensifying. Strong rival groups like BLACKPINK, SEVENTEEN, and STRAY KIDS are competing for fans’ attention. Since BTS’s last tour concluded in 2019, the entire K-pop industry has undergone significant changes.