SEOUL, March 21 — South Korea shut down the heart of Seoul today for a comeback concert by Kpop supergroup BTS, as authorities prepare for an estimated 260,000 fans to flood the city’s streets and millions more to watch the show live on Netflix.

The one-hour-long concert, set to be held in the capital’s historic Gwanghwamun Square, ‌marks the release of the seven-member group’s first new album in more than three years, and the start of a global tour in April.

BTS made their debut in 2013 and have since gone on to global superstardom, becoming the most streamed Kpop artist globally on Spotify with its members invited to the White House and partnering with the UN General Assembly.

In 2022, the group went on hiatus so the members could complete South Korea’s mandatory military service.

“The City of Seoul will do its best to make it flexible — to make (the performance) both safe and enjoyable,” said Seoul mayor Oh Se-hoon on Thursday as he checked safety measures put in place.

Seoul is staging the event nearly four years after a crowd crush killed Halloween revellers in the city’s Itaewon nightlife district.

Memories of the disaster still linger, amplifying pressure on South Korean authorities to ensure the safety of what is expected to be one of its largest-ever public gatherings.

Seoul police have shut streets and erected fences as well as metal detectors around the square, which sits to the south of the Gyeongbokgung Palace.

They have also said they will jam signals of any unauthorised drones.

The Seoul ‌government, BTS’ management agency HYBE and other organisations involved in the event have also deployed a combined 8,200 personnel to manage the crowds who had already begun to ⁠gather yesterday.

The Seoul government also said it had set up medical stations and ⁠secured 2,551 toilets open to the public including in nearby buildings.

Organisers of the concert, which will start at ⁠8pm local time (7pm Malaysia time), gave away 22,000 free ⁠tickets, but the area is open to ⁠non-ticket holders who will be able to watch the performance on Netflix via giant screens.

It will also be streamed live on the platform to 190 countries.

Netflix and HYBE today relaxed restrictions on media coverage of the show, allowing longer audio or video footage of the performance to be shown but still imposed a ban on live-streaming ⁠by the media.

A ‘trillions of won’ comeback

BTS’ world tour will last into 2027 and is set to be the biggest global Kpop tour of all time as well as the largest of their career to date, spanning 34 regions and 82 shows as of this week according to the tour website.

Analysts are projecting blockbuster revenues for the group’s return to the global stage, with some estimates pointing to total tour earnings of as much as 2.7 trillion won (US$1.81 billion), potentially approaching or overtaking past top-grossing tours such as Taylor Swift’s Eras Tour and Coldplay’s Music of the Spheres World Tour.

Seoul-based analysts also estimated that it could bring in total ticket revenue of ⁠at least 1.5 trillion won and total attendance of between 5 and 6 million fans across the whole tour.

yesterday, South Korea’s finance minister said on X that the direct economic effect of the today comeback concert alone was in the “trillions of won”.

“The number of shows could ⁠reach 100 once dates to be added next year are included,” said Hwang Ji-won, analyst at iM Securities.

“Assuming only 50,000 attendees per show, that comes to 5 million - and actual ⁠attendance could be higher ⁠given the 360-degree stage.”

A 360-degree, central stage means the audience completely surrounds the group as they perform.

Analysts say such a set means there are no obstructed views and also increases audience capacity, boosting sales.

Roughly half the shows are expected to be in North America and Europe where ticket prices are generally higher, Hwang added.

Kim Yu-hyuk of IBK Investment & Securities forecast total tour revenue of ‌2.7 trillion won and operating profit of 487 billion won including merchandise, expected to be a major additional revenue driver.

Spending estimates on merchandise range from 100,000 won to 140,000 won per fan, while prices of the new “ARMY Bomb” light stick that the audience use to cheer BTS at concerts have soared on secondhand sites. — Reuters