As a studio owner and music shop co-manager, what I would recommend is rather to have an approach of "where is the added value" + "funding model".
"where is the added value" >> For example if you own a recording studio with lots of very high-end equipment, and you ask for bands to sign with your label in exchange for a reduced rate. Or have new technology (for example, I am one of the first studio in the city to have Dolby Atmos). Etc...
"funding model" >> Rather than trying to make money from streaming only, the value of the band is generally in the community it can gather. Community which can be asked for money with Patreon. Or merchandising sold in concerts. Etc...
"where is the added value" >> For example if you own a recording studio with lots of very high-end equipment, and you ask for bands to sign with your label in exchange for a reduced rate. Or have new technology (for example, I am one of the first studio in the city to have Dolby Atmos). Etc...
"funding model" >> Rather than trying to make money from streaming only, the value of the band is generally in the community it can gather. Community which can be asked for money with Patreon. Or merchandising sold in concerts. Etc...