cstrat: You've hit it on the head. That's exactly what we have planned. We'll soon be putting out profiles of artists and their new releases up on the website. We've already requested our fellow friends (bands,writers) to start contributing & save our asses! :)
And No doubt, no one will ever pay for something like this, unless they exactly know what they're getting in return! So we haven't or say won't ask for it until we have something to show for!
One thing I think you should focus on is getting Artists on there supporting you. You wont get any subscribers until you get the artists. Once you've got the artists producing media - you can use their fan base to grow membership.
I would never subscribe to this service unless there was an artist I cared about using it. I would suggest a strong marketing campaign focussed on winning some Artists. I have known bands with tiny but dedicated followings - those are your paying subscribers.
Best of luck!