SM Entertainment is reportedly charging a similar price for concerts as HYBE even after accusing BTS' agency of exploiting the K-pop market with high ticket prices, according to reports.

MUMBAI: SM Entertainment and HYBE seem to have found a common ground, after all. K-pop juggernaut BTS’ label and popular boyband SHINee’s agency now charge an equal amount for their artists’ concerts. But, what’s the fuss all about? Well, for those who may not be aware, SM Entertainment’s CFO Jang Chul-hyuk a few months ago criticized HYBE’s high ticket prices. Now, SM Entertainment is charging the same price for the ‘Soundcheck Pre-entry’ seat of SHINee’s Taemin.

The 'Soundcheck Pre-entry' seat gives fans the chance to arrive at the concert venue early. This allows them more time with the artists, who might come out on stage for microphone and stage checks. HYBE first introduced this concept for BTS' Permission To Dance concert in Seoul, and it has since been used by other K-pop groups like BLACKPINK.

As per a report from KBIZOOM, SM Entertainment has established the ticket prices for 'Soundcheck Pre-entry' seats for SHINee Taemin's concert at 198,000 KRW. Interestingly, HYBE had previously set the price for BTS' 'Permission To Dance On Stage' concert at the same amount. It's noteworthy that SM CFO Jang criticized HYBE for its high ticket prices, suggesting that the agency is leveraging its dominant position in the K-pop market.

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CFO Jang remarked that SM is establishing fair prices for concert tickets to ensure a diverse range of fans can partake in the cultural performances of their artists. In contrast, HYBE is utilizing its position in the K-pop market to increase concert ticket prices twofold, according to the CFO's statement.

The longstanding problem of expensive concert tickets is not exclusive to SM Entertainment and HYBE but has been a consistent issue for K-pop fans. For instance, the final concert of BLACKPINK's 'BORNPINK Tour' was priced at 220,000 KRW, and the platinum Pink seat with special goods was set at 264,000 KRW. What's particularly worrisome is that these prices are more than double compared to their concert in 2018.

Whereas the BTS reunion is scheduled in 2025 which is expected to be after their World Tour. 

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Credit goes to Koimoi.