Shares of Hybe, the company behind K-pop boy band BTS, tumbled by 15% on Monday after turnout at the band’s much-anticipated comeback concert fell short of expectations, according to latest trade figures.
The free concert, held at Seoul’s Gwanghwamun Square on Saturday, marked the first time all seven members — Jin, Suga, J-Hope, RM, Jimin, V and Jung Kook — performed together since their 2022 hiatus for mandatory military service.
While the event drew an estimated 104,000 fans, the figure was less than half of the expected crowd of around 250,000, according to a report by news website BBC.
Hybe’s stock, which had rallied in recent months ahead of BTS’ comeback tour and the release of their new album Arirang, dropped by 15.5% on Monday following the event.
The concert also kicked off the group’s sold-out world tour and was live-streamed on Netflix across more than 190 countries. According to the BBC report, the global broadcast, along with tight crowd control measures, may have impacted physical attendance. Netflix is expected to release viewership data later this week.
Big Hit Music, Hybe’s music label, announced that Arirang sold 3.98 million copies on March 20, its first day of release. During the concert, the band performed tracks from the new album alongside chart-topping hits like Butter and Dynamite.
Several users on X pushed back against the narrative linking the dip in Hybe’s shares solely to the concert turnout.
“All Korea shares drop, stop attacking BTS,” read one post.
“So only BTS agency shares drop? What about other K-pop agencies? It’s a worldwide issue and you blame BTS for their free concert,” another user wrote.
“Other companies’ shares are dropping too,” a third noted.
Following Saturday's concert, BTS members are set to embark on their Arirang world tour, which will kick off in Goyang, South Korea, on April 9.
Spanning 82 concerts across 34 cities, the 2026-27 tour will take place in Asia, North America, Europe and Latin America.