<figure id="attachment_465552" aria-describedby="caption-attachment-465552" style="width: 3000px" class="wp-caption alignnone"><a href="#" data-ident_hash="3a274c68"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2026/04/f6b761382738319a7b7e17bad6b19740.jpg" alt=""></a><figcaption id="caption-attachment-465552" class="wp-caption-text">Members of &#8220;BTS&#8221; at the &#8220;American Music Awards&#8221; in &#8217;21.</figcaption></figure>
<p><span class="strongInContent"> It&#8217;s been a long time, everyone!　We really missed you!&#8221;</span></p>
<p> Tokyo Dome on April 17 and 18. The members expressed their joy on stage at &#8220;BTS WORLD TOUR &#8216;ARIRANG&#8217; IN JAPAN,&#8221; their first full-body performance in Japan in about seven years. The cheers of the 110,000 people who filled the venue instantly erased the years of their absence. The frenzy reached a climax with the performance of their hit songs &#8220;Butter&#8221; and &#8220;Dynamite.</p>
<p> However, behind this spectacular live performance, a cold draft is blowing in the Korean securities industry.</p>
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<h2> The &#8220;temperature difference&#8221; between the local live performance and the streaming live performance</h2>
<p> Immediately after BTS&#8217;s HYBE, the reigning king of the K-pop world, held its first post-discharge concert on March 21 at Gwanghwamun Square in Seoul, its stock price plummeted more than 15% in one day. As soon as aerial images capturing the empty space of the plaza were spread on SNS, the reputation of the demise of BTS mania ran rampant on the Korea Exchange (KRX).</p>
<p> This trend did not stop in April, with a closing price of 245,500 won on April 14, a drop of about 40% from the February high. The market remains skeptical. The reasons for investors&#8217; simultaneous selling were all too real. The police reported a turnout of about 40,000 people, and the office estimated about 100,000, which was far short of the 260,000 that had been expected.</p>
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<p> However, it would be premature to conclude that the low turnout was simply due to a decline in popularity. There are two hidden factors at play here: painful memories of Korean society and digital strategies. A source at a major record company revealed the inside story: &#8220;The decline in the number of visitors this time is due to the decline in the popularity of the Korean music industry.</p>
<p><span class="strongInContent"> A source at a major record company revealed the inside story: &#8220;The decline in the number of visitors this time was not due to a decline in popularity, but rather too many physical restrictions. The authorities were on high alert, having learned from the tragedy of the Itaewon, Seoul, stampede that killed more than 150 people in October 2010. Fearing that people would stay in certain areas, the police and administration mobilized as many as 15,000 security guards. They imposed restrictions that made it difficult to even get to the area, such as metal detectors, one-way traffic restrictions, and even non-stop passage at the nearest train station.</span><span class="strongInContent"> In addition, the government issued alerts in advance, and the media also encouraged the fear of chaos, creating a de facto &#8220;don&#8217;t come&#8221; campaign.</span></p>
<p><span class="strongInContent"> On the other hand, Netflix&#8217;s live streaming to some 190 countries was a huge success. Fans chose to avoid the harsh restrictions and enjoy the show from the comfort of their own homes, which only resulted in the outflow of people to the enormous number of simultaneous connections of 18.4 million.</span></p>
<div data-friday-nextpage-lead=" Is &quot;BTS&quot; wacky?"></div>
<h2>Changing Fan Base and New Winners</h2>
<p> However, BTS is not resting on these tied numbers. During their absence, K-pop&#8217;s power structure has been dramatically reshaped. Young and energetic follow-up groups such as &#8220;NewJeans&#8221; inside &#8220;HYBE&#8221; and &#8220;Stray Kids&#8221; from &#8220;JYP&#8221; have emerged. In addition, the battle for market share across agency boundaries has become more intense than ever, with &#8220;YG&#8217;s&#8221; &#8220;BLACKPINK&#8221; making a complete comeback and &#8220;IVE&#8221; boasting overwhelming brand power.</p>
<p> The fact that the interest of younger fans, especially those in their teens and early twenties, is shifting to these new generations means that BTS is facing the limits of its age as an idol group.</p>
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<p><span class="strongInContent"> However, the reality of the current ARMY (a term for &#8220;BTS&#8221; fans) shows that the fan base that was once mainly composed of teenagers has now completely shifted to adults in their 30s and 50s, who have high purchasing power. They will not hesitate to spend money on expensive tickets. BTS is no longer a disposable idol, but has evolved into an icon that influences an entire generation.</span></p>
<p> BTS is currently on a world tour with a total of 85 performances (as of April 22) in 34 markets around the world. They will continue to perform in North America, Europe, South America, Asia, and Oceania. Additional shows in Japan and the Middle East are also planned.</p>
<p><span class="strongInContent"> Despite their popularity, however, investors remain cold toward the band. The market was expecting a mega tour of more than 100 concerts to be possible with the current world tour scale, and some people pointed out that it was not enough. This is further compounded by the high price of crude oil due to the increasingly tense situation in the Middle East. Operating costs, including the transportation of huge equipment and personnel to the five continents, have increased dramatically due to inflation. We may be able to mobilize people, but there will be no profit left over. Such concerns about profitability are the reason why their stock price is falling, despite the historic sales of their album &#8220;ARIRANG.</span></p>
<p> Are they wackos or the kings of a new era&#8211;? The answer to that question will be determined by the profits and worldwide enthusiasm generated by the current tour.</p>
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<figure id="attachment_465553" aria-describedby="caption-attachment-465553" style="width: 5036px" class="wp-caption alignnone"><a href="#" data-ident_hash="35960479"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2026/04/af4cb4eae756675ffea08162eb788bd8.jpg" alt=""></a><figcaption id="caption-attachment-465553" class="wp-caption-text"> Fans demanding tickets outside the venue before their first Japan tour in about seven years.</figcaption></figure>
<figure id="attachment_465554" aria-describedby="caption-attachment-465554" style="width: 6000px" class="wp-caption alignnone"><a href="#" data-ident_hash="3ae04c1d"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2026/04/4e811bf249f3483b973a00e0e26dd8b5.jpg" alt=""></a><figcaption id="caption-attachment-465554" class="wp-caption-text"> The Tokyo Dome area on April 17 and 18 was filled with ARMY (a term used by &#8220;BTS&#8221; fans).</figcaption></figure>


 Afro

 BTS" performed in Japan for the first time in seven years. However, behind this spectacular live performance, the stock price of their agency "HYBE" plummeted by more than 15% on the following day. A cold draft was blowing in the Korean securities industry.

Behind the first Japan concert in 7 years and 110,000 people&#8217;s enthusiasm at Tokyo Dome, &#8230;&#8230; &#8220;BTS&#8221; stock price plummeted 15% &#8220;strange&#8221;.

Behind the first Japan concert in 7 years and 110,000 people’s enthusiasm at Tokyo Dome, …… “BTS” stock price plummeted 15% “strange”.

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