On March 21 at 8pm, global K-pop group BTS will hold a comeback live concert at Gwanghwamun Square in Seoul. Fans in Korea and around the world eagerly awaited the event. However, questions are raised about the public interest and civic impact of hosting a large-scale performance in a large public space.
Through this concert, HYBE is expected to generate substantial direct and indirect profits, including broadcast rights fees from Netflix, endorsement deals, merchandise sales, album and digital music revenue, and future world tour ticket sales. The event is also likely to positively affect the company’s stock price and overall enterprise value.
Netflix, which has secured exclusive global streaming rights, will benefit significantly by attracting new subscribers interested in watching the concert. The platform can expand its global user base, increase advertising revenue and strengthen brand value, while establishing a foothold in the live music streaming market. In the long term, it could also profit from the intellectual property of content, including documentaries and concert films derived from the event.
The Seoul Metropolitan Government, which approved the use of the venue, is expected to gain economic benefits through increased tourism, as international visitors spend at hotels, restaurants and shops. The event also strengthens Seoul’s image as a global tourism hub and center of K-pop culture.
Ultimately, the concert appears to be the result of aligned interests between these three parties. However, critics argue that citizens, the real owners of Gwanghwamun Square, have been largely overlooked in the decision-making process.
The central issue lies in the use of a public space for what is essentially a private event. Hosting the concert requires the deployment of thousands of police officers and hundreds of firefighters, funded by taxpayer money. Furthermore, access to nearby cultural sites such as palaces and museums will be limited and subway trains may pass through stations without stopping, causing significant inconvenience to the public.
Between March 16 and 21, Jongno Police Station issued restrictions on protest permits submitted by civic groups planning rallies near Gwanghwamun Square. While BTS’s global reputation helps promote Korea internationally, some civic organizations argue that prioritizing private interests over constitutional rights such as freedom of assembly is difficult to justify.
Despite the size of the event, only a limited number of ticket holders and Netflix subscribers will be able to attend the concert. This decision was criticized for favoring the interests of a few stakeholders while excluding most Korean citizens, including many domestic fans. The fact that the concert is free further complicates the issue, as there is no direct revenue sharing mechanism that would benefit the audience.
Given these circumstances, critics argue that Seoul’s administrative approval is problematic. At a minimum, the city should have required greater public access to the event, ensuring that not only fans but also citizens at large could attend the concert. This condition would represent a basic “give and take” arrangement that balances public and private interests.
A more appropriate approach, some suggest, would have been a conditional approval allowing at least one public terrestrial broadcaster to broadcast the concert alongside Netflix, ensuring wider accessibility for local audiences. The decision to grant broad support and privileges to a private, for-profit event in a public space has led to calls for accountability, including criticism of both the Seoul Metropolitan Government and the Ministry of Culture, Sports and Tourism for failing to coordinate properly.
Netflix’s exclusive broadcast of the BTS concert is also expected to have a significant impact on both domestic and global OTT markets. The platform has already expanded beyond movies and dramas to include entertainment, gaming and sports content, gradually dominating the global media landscape. However, live music has remained relatively untapped until now.
By exclusively streaming a live performance from one of the world’s biggest K-pop groups, Netflix is positioning itself to enter the live music market. If successful, this could pave the way for a future where major global concerts are distributed primarily through Netflix, cementing its role as the leading concert platform.
As a result, Netflix could further strengthen its dominance across all content genres, potentially sidelining competing OTT services both in Korea and globally.
While the concert may help revitalize the domestic live performance scene, concerns remain that most of the profits from K-pop live events could increasingly flow to Netflix. This raises parallels to the current reliance on Netflix to produce original content.
BTS’s contribution to the global spread of K culture is undeniable, and continued support from both central and local governments is important. However, this case highlights the need to take greater account of public interest and accessibility. Future large-scale events must give priority to citizens’ right to access and enjoy cultural content, ensuring a more balanced approach between public good and private gain.
Sources: Mediaus
