Having worked for a (now defunct) company that was trying to get labels onboard, this is exactly correct. They had 3 or 4 people (plus the founders) who mostly spent all day chasing up music industry contacts and lawyers trying to get them into conversations and persuading them to license their content. And having had to deal with CWRs and ERNs, that's also a nightmare of hideous proportions you have to deal with for streaming services.