This depends on how you operate as an artist or label.
Individual account If you're a solo artist or band releasing music under your own name or a project name, and you're not operating as a registered business, an individual account is the right choice. You'll provide your personal details and bank account information.
Business account If you operate as a registered business - for example, if you have a formally incorporated label or music company - you may want to set up a business account. You'll need to provide your business registration details and a business bank account.
If you're not sure, individual is the right starting point for most artists. You can always update your Stripe account type later through your Stripe dashboard.