Does mass loaded vinyl and soundproof panels actually help?

I'm setting up a new studio in my apartment as a streamer, and that means I need to soundproof the room as much as possible.

If I cover the walls in front of me, above me, and beside me with mass-loaded vinyl, and on top of that also stick some soundproof panels, will it actually make a decent difference in terms of sound coming out of the room?

Also, if you have any other recommendations, I would really appreciate it!

I'm also thinking of putting soundproof panels, a door sweep, and weatherstrippers on the door.