Data Science and Data Analytics provides insight by monitoring operations, administration and measuring performance outcomes, such as terabytes of data per day typical of high-end film production. Audience analytics, digital distribution analytics, royalty analytics are vital for insights to project performance, such as release dates, concert & events expectations.  Plus, understanding the buying habits, or listening patterns of target audiences can provide meaningful insight to strategic marketing plans.

"How to build a fanbase?"

Versatile Video Coding (VVC) (MPEG-I Part 3) is a video compression "algorithm" standard in development by the Joint Video Experts Team (JVET) scheduled for release in mid-2020. The resolutions to be supported are from 4k to 16k and 360 videos.  VVC should support lower bit rates too.  Wikipedia

Absolutely yes.  Just be wise and avoid common beginner mistakes.  Remember, the frequency balance and quality of input sound and microphone placement can limit music mastering optimization, to share a few.

The answer truly depends on whom the inquiry is directed.  The facts presented by the US Census and IFPI Global Music Report 2019 announced a bullish 9.7% increase from 2018 with the fourth consecutive year of growth reaching in the U.S. to $19.1 billion.
The business of music and the digital technology revolution has created a paradigm shift from the historical Big 4 to Indi Labels. This is not new. Everyone is a guitarist. Everyone has an "Uncle-Cousin-Nephew-Twice-Removed" building websitesThere is nothing new under the sun. The masterpiece is you.