This is one of those stories that sounds so wrong that I thought it was a rumor blown out of portion . . . hard to say since most reports on the subject all lead back to one article from the Financial Times.
Basically, it goes like this. YouTube is about to launch a beta test of their new streaming music service which would compete with Spotify and Amazon’s new music service. In order to offer streaming music, record labels had to sign a licensing agreement but several indie labels say the agreement isn’t fair and have refused to sign.