The phrase "holding space" for the lyrics of "Defying Gravity" is a reference to the idea of being fully present with someone or something without judgement or distraction :
Explanation: "Holding space" means being physically, emotionally, and mentally present with someone or something. It's about being fully present so that the person can share their experiences and perspective.
Context: The phrase became popular in the context of the Broadway musical Wicked and its song "Defying Gravity":
In the musical, "Defying Gravity" is the finale for the first act, when Elphaba discovers that the Wizard of Oz is not the heroic figure she thought he was.
The phrase "holding space" became popular after a reporter asked Cynthia Erivo about people holding space with the lyrics to "Defying Gravity". The reporter said she didn't mind becoming a meme.