Video-sharing service YouTube is reportedly on the verge of removing thousands of music videos in preparation for a new paid streaming service. #AboutThatTubeLife

According to reports, a vast majority of independent labels will suffer from YouTube’s policy change.

Google Inc’s YouTube said on Tuesday that it plans to launch a paid streaming music service, amid criticism that its existing, free video website might block the music videos of labels that do not agree to its terms. YouTube has partnered with “hundreds of major and independent” music labels for the new service, the company said in a statement, confirming long-running rumors that the world’s most popular online video website will offer a paid music service. (Raw Story)

Unless deals and agreements are made, labels could see all of their clips removed.

The news comes as some music trade groups have criticized YouTube’s plans to potentially block the content of certain labels from appearing on YouTube’s free, ad-supported Website unless they sign deals to participate in the new, subscription streaming music service. The deals that YouTube is offering are on “highly unfavorable, and non-negotiable terms,” according to a news release issued by the Worldwide Independent Music Industry Network last month. (Raw Story)

The video-sharing service has also issued a statement on the big announcement.

“We’re adding subscription-based features for music on YouTube with this in mind – to bring our music partners new revenue streams in addition to the hundreds of millions of dollars YouTube already generates for them each year.” (Statement)

Last year, indie rapper Chris Webby spoke to SOHH about the importance of blowing up on YouTube.

“I would say YouTube is always important. That’s where people can actually listen and check out the music. I would put that one to the side because you don’t really communicate with people through it. You need that and you need to have your library of music on there organized so people can go there and find it.” (SOHH)

#AboutThatTubeLife