Use this
Green Glue between the layers - not sealer. You need a bit of an air gap to increase the sound deadening over what 2 layers of 5/8" drywall will give you. Don't bother with the sealer between the layers or the OSB on the concrete floor. If you do a good job in the Home Theater Room (HTR) with the 2 layers of drywall installed as directed, and a second wall inside of the existing room spaced constructed appropriately you can just use a single drywall layer for the rest of the basement.
A big deal is not having forced air heating & ventilation in the HTR as it transmit the sound you are tying so hard to mitigate. Go to a dedicated heat pump for an outside wall, radiant heated floor, or even electric baseboard heat if you can't afford the heat pump. (Although most provinces are giving big subsidies with no tax these days.)
You really should take the time to watch those Videos. It could save you a lot of grief.