[andjd]

>I understand that the failure rate is high just like startups and movies.

I'd suggest that startups and movies have a much higher probability of 'success' than minting a hit song that can generate 1 billion streams. While there are a few stories of hit songs that organically break through, the vast majority are promoted _hard_ by the labels using resources (both money and connections) that are hard to amass outside the major labels.

It is an axiom that today, artists make all of their money touring. But even live performance (particularly at the largest venues) is dominated by monopolistic players. Without having a large number of headliner artists, you won't have the negotiating power to get favorable rates, and they'll eat you for breakfast too.