I just thought I'd recommend this to y'all since so many of you are interested in music management/owning a record label etc. It's called Music Wars Rebirth 2 and fairly glitchy/slow-paced but overall one of the best games of its type out there. You can manage a pre-made label (including the iconic 'Holly
would Records') or make one of your own.
You can then sign as many artists as you like to your label and even form your own bands. Then all you have to do is record, release and promote (as well as tour) to achieve world domination

You can check it out
here (you have to buy a license key but I think there
might be a free trial or something).