Summary
Shares of Hybe, the company behind the K-pop group BTS, fell sharply after fewer fans attended the band’s comeback concert than expected. The concert in Seoul attracted about 104,000 fans, much less than the anticipated 250,000, leading to a nearly 15% drop in Hybe's stock value.
Key Facts
- Hybe's shares dropped by almost 15% after the BTS concert.
- The concert in Seoul had about 104,000 attendees, which was below expectations.
- All seven BTS members performed together for the first time since 2022.
- The event began their sold-out, 82-date world tour and was live-streamed on Netflix.
- The concert highlighted songs from their new album, "Arirang," which sold 3.98 million copies on its first day.
- K-pop has become more popular globally since BTS's last tour ended in 2019.
- BTS faces competition from groups like Blackpink and Seventeen.
- Hybe's operating profit had decreased during BTS's hiatus.
