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Blanket Music Licensing

Here's an interesting topic for discussion. A consultant to the music industry is advocating they explore blanket licensing. The basic premise would be that people who pay a fee into a joint fund would have unlimited access to all of the music the labels contribute to a music pool that the fund sponsors. The funds collected would be disbursed statistically among the artists who created the music based on samplings of usage.

http://arstechnica.com/news.ars/post/20080818-paying-for-music-has-become-functionally-voluntary.html

What do you think of this? Will music artists embrace this?