This was the biggest single-day drop in shares of Hybe since June 2022. The group’s latest event at Gwanghwamun square, ended up with a total turnout of 1,04,000, compared to the 2,60,000 turnout initially estimated by the police, as per Chosun Ilbo.
There were stringent crowd control measures put in place to avoid a repeat of an incident at Itaewon many years back.
The concert was live-streamed by Netflix, which will release viewership figures later this week. The event also saw more viewers on Netflix, topping daily charts in countries including South Korea over the weekend.
BTS is returning to the stage after a gap of nearly four years, as its seven members underwent mandatory military service. They have currently embarked on their largest-ever tour.
The preliminary reception to their new work was strong. The album quickly topped Spotify charts after its release. Several songs led rankings including on Spotify and iTunes, while the album sold 4 million copies on its first day.
Hybe’s future hinges on the success of BTS and its comeback. Hybe is its management company and record label. Despite Hybe’s global expansion through the acquisitions of labels from Hollywood to Latin America, BTS remains the company’s core earnings driver. Profit growth had been sluggish during the group’s hiatus.
(With Inputs From Agencies)
