Highlights
- HYBE says 104,000 fans attended BTS's Gwanghwamun Square concert; police put the figure at roughly 42,000, both well below the projected 260,000.
- The group's new album "Arirang" sold 3.98 million copies in its first 24 hours, breaking BTS's own record set by "Map of the Soul: 7" in 2020.
- Analysts estimate the 82-date world tour could generate up to $1.93 billion, with HYBE projecting a nearly 900% jump in operating profit for 2026.
More than 100,000 fans turned out Saturday for BTS's first concert in nearly four years, according to the group's label HYBE, though the crowd was well below the 260,000 that organizers had initially projected for the free outdoor event in central Seoul.
The seven members of the South Korean boy band (RM, Jin, Suga, J-Hope, Jimin, V and Jung Kook) performed together for the first time since 2022 at Gwanghwamun Square, a public plaza flanked by the 14th-century Gyeongbokgung Palace. Seoul police estimated a far smaller crowd of about 40,000 to 42,000, based on city government data reported by Yonhap News Agency. HYBE said its figure of 104,000 was based on ticket sales and data from South Korea's three major mobile carriers.
BTS went on hiatus in 2022 as members began serving under South Korea's conscription system, which requires most able-bodied men to serve 18 to 21 months. Suga, the last to finish, completed his service in June 2025. During that stretch, HYBE's operating profit fell by roughly 37.5%, according to company disclosures.
The concert ran about an hour and was streamed live on Netflix in 190 countries.
Arirang album shatters BTS's own sales record
The concert came a day after HYBE released "Arirang," BTS's fifth studio album, which sold 3.98 million copies within 24 hours, according to Big Hit Music, the HYBE label that manages the group. That figure eclipsed the group's previous record of 3.37 million copies sold in the first week of "Map of the Soul: 7" in 2020. The lead single, "Swim," reached No. 1 on iTunes charts in 90 countries. The 14-track album was produced under the direction of HYBE Chairman Bang Si-hyuk and features credits from producers including Diplo, Kevin Parker, and Ryan Tedder.
Analysts are projecting the comeback will anchor a recovery year for HYBE. Yuanta Securities forecasts the company will post revenue of 3.92 trillion won (about $2.7 billion) and operating profit of 493.3 billion won in 2026, representing increases of roughly 48% and 899%, respectively, over 2024. Kim Yu-hyuk, an analyst at IBK Investment & Securities, estimated BTS's comeback would generate at least 2.9 trillion won (~$1.93 billion), a figure he said could rival Taylor Swift's Eras Tour earnings.
The 82-date "Arirang" world tour, spanning 34 cities across 23 countries, begins April 9 in Goyang, South Korea. Tickets for shows in South Korea, North America and Europe sold out within hours. Hwang Ji-won, an analyst at iM Securities, said the tour could expand to 100 dates by next year, with an estimated 5 million total attendees.
Seoul locks down Gwanghwamun under heavy security
Seoul authorities deployed about 8,200 security personnel for Saturday's event, closed roads and suspended subway and bus service around Gwanghwamun. The heavy security posture reflected lingering caution after a crowd crush in the Itaewon nightlife district in October 2022 killed nearly 160 people during Halloween celebrations. Some critics said the restrictions went too far, shuttering nearby shops and museums for the day.
South Korean President Lee Jae Myung expressed hope that the event would promote the country's culture abroad. Hye Jin Lee, a clinical associate professor at the University of Southern California's Annenberg School, said the return would test whether the group's fandom had shifted during the hiatus. "Everybody's waiting to see what this comeback will look like," she said.
HYBE shares fell 3.8% on Thursday after RM's injury was disclosed, closing at 341,000 won on the Korea Exchange, though the stock had risen sharply in the weeks leading up to the album release. The company is banking on BTS alongside comebacks from Seventeen, Tomorrow X Together and Le Sserafim to push total album sales to 32 million units this year.
For BTS, the arithmetic is straightforward. A four-year absence tested the loyalty of a global fan base that calls itself ARMY. Saturday's concert -- streamed worldwide but drawing fewer bodies to Gwanghwamun than expected -- offered early evidence that the group can still fill a screen, if not always a square.
