What is the difference between starting a record label or entertainment company?

Starting a record label focuses primarily on the production, distribution, and promotion of music and artists, often involving contracts and royalties specific to musical works. In contrast, an entertainment company can encompass a broader range of activities, including film, television, live events, and other forms of media, potentially managing various types of talent beyond just musicians. While both require business acumen and an understanding of the entertainment industry, the scope and operational focus differ significantly.