An air guitar band is rising up to be one of the greats in the music industry, but when a rival band gets signed to the same label, they struggle to keep their novelty act valid.

Thank you both for your input :)

We may not be talking about the same thing, but the only air guitar I'm aware of is people miming playing guitar to other people's recorded music. They don't really sell any records themselves, as far as I know. But you may, of course, be refering to something completely different.

If we are referring to the same thing, I would suggest changing from label to maybe agent or manager.

In "The Runaways", there still was a central character that the story revolved around..
Choose a main protagonist in the band and develop the story around their experience // journey..

"A rising (weakness)** air guitarist faces fierce competition from a former rival signed to the same label."

By condensing your concept down, you can work out where to add and subtract elements..

What do they have to do to keep the act valid ??
What is the urgency to their goal ??

Happy writing :D

Tor