macroeconomics

After four years of group silencethe return of the undisputed kings of K-pop, BTS, is going beyond the mere cultural event: 3.98 million copies of her new album sold on the first day and the announcement of an 82-concert tour whose projected revenue rivals Taylor Swift’s Eras Tour. BTS is already more than one of the most important pop groups in the world. It is an event of almost microeconomic magnitude. The farewell BTS’s last joint concert was in March 2022. A few months later, the group announced a pause for its seven members to complete mandatory military service in South Korea, a commitment of between 18 and 21 months from which not even they were exempt. The last to graduate was Jin, in June 2025. In between, each member launched solo projects with mixed success while HYBE, the company that owns the group, endured the pressure of not having its main asset working. Strangled without BTS, but not much. Because of this forced absenceHYBE’s operating profit fell 73% in 2025up to 49.9 billion won and while restructuring its operations in the United States and investing in new business lines. Its fan platform Weverse, however, managed to enter its first year of profit, with 11.2 million monthly active users generating stable income through memberships and expenses linked to digital commerce. The search for ‘Arirang’. This past weekend, BTS released ‘Arirang’, their fifth studio album. The title is loaded with meaning: it refers to a Korean folk song considered the country’s unofficial anthem, with centuries of history and dozens of regional variants. A clear manifesto, as they have said in various interviewsabout the group members’ common Korean identity. They produced more than 120 songs for this album in two months, of which 14 survived, all deliberately brief to please generation Z and its more than recognized difficulty concentrating your attention at a point beyond a few minutes. The sales. ‘Arirang’ sold 3.98 million physical copies in its first 24 hourssurpassing the record that the group itself had with ‘Map of the Soul: 7’. On Spotify, the platform recorded 110 million global plays on Spotify in its first 24 hours, and was positioned among the most pre-saves in the history of the service, with more than 5 million prey. The album’s 14 songs simultaneously occupied Spotify’s global top spot, while the single ‘Swim’ debuted at number one with more than 14.6 million views. The absolute historical record for the platform is still held by Taylor Swift with ‘The Tortured Poets Department’ and 314 million listens. Concert in Seoul. The day after the release, on March 21, BTS held a free concert in Seoul’s massive Gwanghwamun Square. Around 260,000 people traveled to the venue: 22,000 fans were in front of the stage and tens of thousands more followed the show on giant screens installed in the surrounding area. Municipal authorities and HYBE 8,200 people were deployed between police, medical staff and management teams. The concert was, furthermore, broadcast live on Netflix: It was the platform’s first global live broadcast of a music concert, and could be enjoyed in 190 countries. The tour is the key. The tour is where the economic magnitude of the return is concentrated. The ARIRANG World Tour will begin on April 9 in Goyang (South Korea) and will end about 11 months later in Manila, with 82 concerts in 34 cities in 23 countries. The tour includes Europe (Belgium, United Kingdom, Germany and France), North America, Latin America (Colombia, Peru, Chile, Argentina and Brazil), Southeast Asia and Australia. How will it be? Apparently, BTS will use a 360 degree scenario instead of the usual front format. This will eliminate restricted visibility areas that normally render between 15% and 30% of the seats unusable: a 70,000-seat stadium in frontal format sells approximately 55,000 usable tickets; with the round design it can reach 65,000. The analysts They project total income from the tour of up to $1.8 billion, figures that would place the tour in the same league as Taylor Swift’s Eras Tour and Coldplay’s Music of the Spheres World Tour. For comparison: that of Taylor Swift It generated nearly $2.07 billion with 149 concerts. BTS could approach that figure with half the number of concerts. The stock market hype. Following the announcement of BTS’ comeback, HYBE shares reached their highest in the last four years, rising up to 9.5% and adding more than one trillion South Korean won to the company’s market capitalization. It is expected HYBE’s revenue in 2026 is expected to grow by 47% to 3.87 trillion won, with an operating profit of approximately 480 billion won: ten times that of 2025. Impact on tourism. According to data from the South Korean Ministry of Justice, foreign visitor arrivals between March 1 and 18 grew by 32.7% compared to the previous year, driven especially by tourists between 20 and 29 years old. Europe was the market with the highest relative growth, with an increase of 51%. The Korea Culture and Tourism Institute esteem that the tour will generate 1.2 trillion won of impact per concert held in South Korea. Some economists are modeling the entire return as a macroeconomic event in itself, with projections pointing to a contribution of up to 0.5% of GDP when tourism, hospitality, retail and country brand growth are added. What has changed. Four years later, BTS returns to a different market than the one they left: the short-form video (Reels, YouTube Shorts, TikTok) is no longer an accessory promotional tool, but the very core of what needs to be covered with any launch. Artificial intelligence has been installed in music production (in the interview with Bloomberg, Suga compares it to the Industrial Revolution and speaks of “irreversible” changes). It has also changed how we see live musicincreasingly in need of spectacularity. And, of course, how the international perception of K-pop has changed after the success of ‘The K-pop Warriors’ from Netflix. A world in perpetual change to which, for the moment, BTS does … Read more