[Sportschosun Baek Ji-eun reporter] Two leaders in the global music industry have met.
Bang Si-hyuk, chairperson of HYBE, held a 90-minute talk on the 16th with Lucian Grainge, chairperson and CEO of Universal Music Group (UMG), at HYBE Yongsan Headquarters Building. UMG is the world's largest music company, accounting for more than 30% of the global recorded music market, and it has partnered with HYBE, now the world's fourth-largest music company, in areas ranging from record distribution to joint venture formation.
Bang and Grainge explained their respective management philosophies and found common ground through music. Grainge said, "No matter where you are or what responsibilities you hold, nothing matters without music in the end," adding, "My management philosophy is that you should work surrounded by good music and good people." Bang said, "I believe companies should ease social inconveniences in line with the essence of their business," and added, "The way we solve this is by using music to satisfy the emotions of fans who pursue happiness despite loneliness and hardship, and to give them strength in life. I believe we must preserve our essence and become a company that can give fans a reason to live through music."
After hearing Bang's response, Grainge said, "Chairperson Bang is a songwriter, producer, and entrepreneur who has created a truly unique and creative culture," adding, "I hope everyone understands that what he has created and achieved with responsibility, passion, and a mission he believed in is not ordinary." He continued, "What we do is create culture," and said, "I hope those of you working in the music industry also realize how beautiful what we do really is," drawing applause from the audience.
Asked why they regard each other as their best partner, Bang said, "I always talk with Chairperson Grainge about how to develop the music industry, and I feel a sense of kinship," adding, "I respect the journey in which he has boldly offered new solutions whenever countless external changes have come our way." He went on to say, "While many leaders work for their companies, Chairperson Grainge has done his best to help the entire music industry move forward," and added, "He is a leader who created an environment in which those of us in the music industry can make a living, and I have learned a great deal from the intelligence that made that possible."
Grainge emphasized, "We talk a lot about what UMG and HYBE can do for each other, and those conversations are based on strategy, not deals." He also described Bang as "someone who thinks strategically, not a dealmaker, which is why we have been able to work as partners for so long," and said, "I think the fact that he has both strategy and emotion, as well as instinct, made his achievements possible."
Finally, when the host asked what music means to each of them, both men defined it as life itself. Grainge said, "Music is like oxygen to me," adding, "When I am having a hard time or feeling down, I play my favorite music loud, and it feels like everything melts away." Bang said, "Music is life itself and the reason I live," adding, "It is the only force that makes me accept life even when it is difficult."
Lucian Grainge is a living legend in the industry who has helped reshape the music business over more than four decades since beginning his career in A&R in the UK in the late 1970s, working with artists from Queen, ABBA, and Elton John to Taylor Swift and Billie Eilish. Bang Si-hyuk began as a lyricist, composer, and producer, founded Big Hit Entertainment in 2005, and went on to nurture numerous artists, including BTS, into global stars before building HYBE into the world's fourth-largest music and entertainment company.
Baek Ji-eun, silk781220@sportschosun.com
