Hybe Chairman Bang Si-hyuk and Sir Lucian Grainge, Chairman and CEO of Universal Music Group (UMG), shared profound insights into the music business during a 90-minute town hall discussion held at Hybe’s Yongsan headquarters on the 16th. This engaging dialogue offered valuable perspectives to Hybe’s global team members.
The town hall discussion was made possible by Sir Lucian Grainge’s visit to Korea to meet with Chairman Bang Si-hyuk. UMG, the world’s largest music company, commands over 30% of the global music market. It maintains an extensive partnership with Hybe, which has grown to become the world’s fourth-largest music company, collaborating across various domains including music distribution and the establishment of joint ventures.
During the session, the two industry titans openly discussed a wide range of topics, from their initial immersion in music as teenagers to the challenges they’ve faced in a music industry transformed by technological advancements and shifting consumption patterns, all the way to their deeply held philosophies on the business. Approximately 200 team members attended in person, while employees from overseas subsidiaries in regions such as Japan, the United States, Latin America, and India tuned in via live online broadcast, gaining firsthand insight into the decision-making experiences and personal reflections on music from these two influential leaders in the global music landscape.
Both leaders articulated their respective management philosophies, consistently identifying music as their fundamental starting point. Sir Lucian Grainge emphasized, “No matter where you are or what responsibility you hold, ultimately, nothing exists without music. My management philosophy is to work surrounded by good music and good people.” Chairman Bang Si-hyuk shared his conviction: “I believe that companies should alleviate societal inconveniences in line with the essence of their industry. The way we at Hybe achieve this, though sometimes lonely and challenging, is by using music to fulfill the emotions of fans seeking happiness and to empower their lives. We must be a company that upholds its core essence and can provide fans with a reason to live through music.”
Upon hearing Chairman Bang’s response, Sir Lucian Grainge commented, “Chairman Bang, as a composer, producer, and entrepreneur, has created a truly special and creative culture. I want everyone to understand that his achievements, driven by responsibility, passion, and a commitment to missions he deems important, are far from ordinary.” He added, “What we do is create culture. I hope everyone working alongside us in the music industry recognizes how truly beautiful our work is,” garnering applause from the audience.
Explaining why they consider each other the best partners, Chairman Bang Si-hyuk stated, “I always feel a sense of camaraderie with Sir Lucian Grainge as we constantly discuss how to advance the music industry. I deeply respect his journey of bravely offering new solutions whenever facing numerous changes in the external environment.” He continued, “While many leaders work for their own companies, Sir Lucian Grainge has consistently strived for the advancement of the entire music industry. He is a leader who has created an environment where those of us in the music industry can ‘make a living,’ and I learn a great deal from the intelligence that enabled him to achieve such things,” expressing his profound admiration.
Sir Lucian Grainge emphasized, “We talk a lot about how UMG and Hybe can help each other, and these conversations are based on strategy, not just transactions.” He described Chairman Bang Si-hyuk as “not a transactional person, but a strategic thinker, and that is why I have been able to partner with him for so long.” He added, “I believe that having both strategy and emotion, along with intuition, is what made his accomplishments possible.”
Finally, when asked by the moderator about the meaning of music to each of them, both leaders defined music as “life itself.” Sir Lucian Grainge remarked, “Music is like oxygen to me. When I’m having a hard or depressing time, if I play my favorite music loudly, everything feels like it melts away.” Chairman Bang Si-hyuk stated, “Music is life, and the reason I live. It is the only driving force that allows me to accept life, even when it’s difficult.”
Concluding their discussion, both leaders offered words of encouragement to the team members working in the music industry. Sir Lucian Grainge advised, “It’s important to keep moving forward by your own will and not stop. What people think is important, but you shouldn’t be overly sensitive to it.” Chairman Bang Si-hyuk expressed, “There might be times when you forget what you’re doing because you’re treating music as work. I hope this time allowed you to step back and feel the preciousness of your work in music.” He concluded the dialogue by saying, “I thank Sir Lucian Grainge for coming all this way to Seoul for this meeting.”
Hybe and UMG have maintained close cooperation since their initial partnership in 2017 for the distribution of BTS’s Japanese album catalog. In 2021, the two companies forged a strategic partnership, leading to UMG artists joining Weverse and the establishment of the Hybe-Geffen Records joint venture. In 2024, they further expanded their scope of collaboration by signing a partnership that includes global distribution agreements for Hybe Music Group’s labels and support for artists’ North American promotions.
Meanwhile, Sir Lucian Grainge is a living legend in the industry, having started his career as an A&R in the late 1970s in the UK. For over 40 years, he has worked with artists ranging from Queen, ABBA, and Elton John to Taylor Swift and Billie Eilish, consistently changing the paradigm of the music industry. Chairman Bang Si-hyuk began as a songwriter and producer, founded Big Hit Entertainment in 2005, nurtured numerous artists including BTS into global stars, and subsequently developed Hybe into the world’s fourth-largest music and entertainment company.
