Hybe shares drop after BTS comeback concert attendance misses forecasts

The figure fell short of the 260K attendees previously forecast, raising concerns among investors and analysts

BTS’s long-awaited return to the stage has drawn lower-than-expected attendance, contributing to a sharp decline in shares of parent company Hybe.

The South Korean group performed their first concert in more than three years in Seoul on March 21, attracting just over 100,000 fans, according to local authorities. The figure fell significantly short of the 260,000 attendees previously forecast, raising concerns among investors and analysts.

Hybe’s shares dropped by 15% on Monday following the event, reflecting market disappointment over the turnout. The concert, held at Gwanghwamun Square, also faced criticism from some attendees and observers over strict security measures, which were imposed despite the smaller crowd.

BTS remains a central driver of Hybe’s financial performance. The company experienced a decline in profits during the group’s hiatus, which began in 2022 as members fulfilled mandatory military service requirements. Hybe operates Big Hit Music, the label responsible for BTS’s rise to global prominence after their debut in 2013.

While physical attendance did not meet expectations, the comeback concert is being streamed on Netflix in 190 countries, offering an alternative revenue stream and broader global reach. The group has also announced an extensive tour schedule, with 79 shows planned across 23 countries during the first leg.

The K-pop industry has become increasingly competitive during BTS’s absence. Groups such as BLACKPINK, SEVENTEEN and Stray Kids have expanded their global audiences, while other content, including Netflix’s KPop Demon Hunters, has gained popularity among younger viewers.

Despite the recent share price decline, some analysts have maintained positive outlooks for Hybe, citing the scale of the upcoming tour and continued international demand for BTS.