> I would not recommend building software for the music industry.
I agree with your list of reasons to not build software for the music -promotion- industry.
Software for the music industry, however, can be very lucrative. Musicians and music producers will happily spend thousands, sometimes millions, on instruments and tooling. (And are also the types of people to buy lots of things they don't need...)
This would be much more interesting if it had some details - which band led to the spike, what tech/approach helped with scaling, etc.