Shares in Hybe, the parent company of South Korean boyband BTS, fell 15% on Monday as their much-anticipated comeback in Seoul on Saturday drew a smaller crowd than expected.
Local authorities said just over 100,000 fans attended the band’s first concert in more than three years, falling short of the 260,000 forecast, Reuters reported. The event came under criticism from some South Koreans for tight security measures enforced on a crowd that mostly failed to materialise.
BTS is key to Hybe’s revenues, with profit slumping during the band’s extended hiatus for mandatory military service from 2022. Hybe owns the band’s record label, Big Hit Music, which brought BTS to international fame after the release of their first album in 2013.
Its share price hit reflected investor disappointment in the band’s return, although the tour is streaming on Netflix in 190 countries, which may help offset some of the in-person attendance declines.
The seven-piece group is widely credited as pioneers of the K-pop genre, but the industry has grown increasingly competitive in their absence.
