HYBE Chairman Bang Si-hyuk and Universal Music Group (UMG) Chairman and CEO Sir Lucian Grainge shared their perspectives on the music business during a 90-minute conversation held at HYBE’s Yongsan headquarters on June 16.
The special town hall took place as Grainge visited South Korea to meet Bang. UMG, which accounts for more than 30% of the global recorded music market, is the world’s largest music company and maintains a broad partnership with HYBE, now the fourth-largest music company globally. The two companies collaborate in areas including music distribution and joint ventures.
During the event, the two executives openly discussed everything from their first experiences falling in love with music as teenagers to the challenges of navigating an industry transformed by technological advances and changing consumer behavior. More than 200 employees attended in person, while staff from HYBE’s overseas branches in Japan, the United States, Latin America, and India joined via live stream to hear firsthand about the leaders’ decision-making experiences and personal reflections on music.
Explaining their management philosophies, both leaders emphasized music as the foundation of everything they do. Grainge stated, “No matter where you are or what responsibilities you hold, nothing exists without music. My management philosophy is that you must work surrounded by great music and great people.”
Bang shared his own perspective, saying, “I believe companies should address society’s needs based on the essence of their industry. The way we do that is by helping fans who pursue happiness despite loneliness and hardship, fulfilling those emotions through music and giving strength to their lives. We must remain true to our essence and become a company that offers people reasons to live through music.”
After hearing Bang’s remarks, Grainge praised him, saying, “Chairman Bang is a songwriter, producer, and entrepreneur who has built a truly unique and creative culture. I hope everyone understands that what he has created and achieved through responsibility and passion is far from ordinary.”
He continued, “What we do is create culture. I hope everyone working in the music industry realizes how beautiful this work truly is,” drawing applause from the audience.
When asked why they consider each other ideal partners, Bang explained, “Chairman Grainge and I constantly discuss how to advance the music industry, and I feel a strong sense of shared purpose with him. I deeply respect the way he has consistently presented bold solutions whenever the industry faced major external changes.”
Bang added, “While many leaders focus solely on their own companies, Chairman Grainge has always worked to move the entire music industry forward. He is a leader who helped create an environment where all of us in this industry can make a living, and I have learned a great deal from his intelligence and vision.”
Grainge responded, “We spend a lot of time discussing how UMG and HYBE can help each other, and those conversations are based on strategy rather than transactions.”
He described Bang as “someone who thinks strategically rather than transactionally,” adding that this mindset is one of the reasons their partnership has lasted so long. Grainge also noted that Bang’s combination of strategic thinking, emotion, and intuition has been key to his success.
When asked what music means to them personally, both leaders described it as life itself. Grainge said, “Music is like oxygen to me. Whenever I’m struggling or feeling down, turning up my favorite songs makes everything melt away.”
Bang replied, “Music is life itself and the reason I live. Even when life becomes difficult, music is the one force that helps me accept and move forward.”
As the conversation concluded, both executives offered advice to those working in the music industry. Grainge encouraged employees to keep moving forward under their own motivation, saying, “It’s important not to stop. What others think matters, but you shouldn’t be overly sensitive to it.”
Bang added, “Because we deal with music as work, there are times when we forget what we are actually doing. I hope today gave everyone an opportunity to step back and appreciate the value of working in music. I’m also grateful to Chairman Grainge for making the long trip to Seoul for this meeting.”
HYBE and UMG have maintained a close partnership since 2017, when they first collaborated on the distribution of BTS’s Japanese releases. In 2021, the companies formed a strategic partnership that led to UMG artists joining Weverse and the creation of the HYBE x Geffen Records joint venture. In 2024, they expanded their collaboration further through global distribution agreements for HYBE Music Group labels and promotional support for artists in North America.
Meanwhile, Sir Lucian Grainge is widely regarded as one of the most influential figures in modern music history. Beginning his career in A&R in the late 1970s, he has worked with legendary artists ranging from Queen, ABBA, and Elton John to Taylor Swift and Billie Eilish. Bang Si-hyuk, who started as a songwriter and producer before founding Big Hit Entertainment in 2005, has played a pivotal role in developing BTS and numerous other artists into global stars while transforming HYBE into the world’s fourth-largest music and entertainment company.
Sources: Nate
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