The difference is two different concepts. The former is a company's trademark and brand, and the latter is a team composed of multiple musicians. The details are as follows:

1. Label refers to the name of a music company or record company. It is a trademark and brand, which represents a music style and style positioning. Labels usually sign some artists or bands to provide them with all-round support in music production, promotion, performance, etc. to help them build their own music brand and image.

2. Band refers to a team composed of multiple musicians or singers, usually including lead singer, guitarist, bassist, drummer and other members. Sometimes keyboard player, DJ, etc. are also added. Groups vary in style and genre of music, which can be rock, pop, hip-hop, and more.