HYBE chief and UMG chairman discuss music's essence and future in Seoul

HYBE Chairman Bang Si-hyuk and Universal Music Group (UMG) Chairman and CEO Lucian Grainge convened at HYBE's headquarters in Yongsan, Seoul, for an in-depth discussion on the future of the music business. The 90-minute town hall, attended by approximately 200 HYBE employees and viewed online by international staff, focused on the core principles that guide their leadership in the global music industry.

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Ultimately, nothing exists without music, regardless of the responsibility one holds. It is my management philosophy to work surrounded by good music and good people.

Both industry titans shared personal insights, tracing their journeys from teenage fascination with music to navigating the evolving landscape shaped by technological advancements. A central theme of their conversation was the foundational role of music in their respective management philosophies. Grainge stated, "Ultimately, nothing exists without music, regardless of the responsibility one holds," emphasizing the need to be surrounded by good music and good people.

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The way we resolve societal discomfort is by fulfilling those emotions through music for lonely and struggling fans, and by giving them strength in their lives. We must become a company that can present the reason for fans' lives through music while preserving the essence.

Bang echoed this sentiment, describing music's power to fulfill the emotions of fans who are seeking solace and strength. "The way we resolve societal discomfort is by fulfilling those emotions through music for lonely and struggling fans, and by giving them strength in their lives," he said. He stressed the importance of companies staying true to their core mission of providing purpose through music.

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He is a leader who proposes bold solutions to changing external environments, doing his best for the entire music industry to move forward. I learn a lot from his cleverness in creating an environment where those in the music industry can coexist.

The leaders also conveyed deep mutual respect. Bang lauded Grainge as a leader who "proposes bold solutions to changing external environments, doing his best for the entire music industry to move forward," and acknowledged learning from his "cleverness in creating an environment where those in the music industry can coexist." Grainge, in turn, described Bang as someone who "thinks based on strategy, not deals," attributing his achievements to a combination of strategic vision, emotion, and intuition. The conversation concluded with both leaders defining music as essential to life, with Grainge likening it to "oxygen" and Bang calling it "life itself and the reason for living."

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He is someone who thinks based on strategy, not deals. His strategic insight, along with emotion and intuition, has enabled the achievements he has made.