Sony BMG, if German-to-English translated reports are to be believed, is planning a music subscription service that will be compatible with Apple’s all conquering iPod. Sony BMG CEO Rolf Schmidt-Holtz is reporting that the service will offer unlimited access to music for £4.5-£6 per month and music downloaded by subscribers will be yours to keep, even post-subscription.

However, without the other major labels being involved, the forthcoming Amazon MP3-based service looming and the prospect of an Apple iTunes service as well, it’s hard to see the service making much headway. With a history that includes the Pressplay service, which morphed into the current Napster, and even with cross-platform compatibility, it’s hard to see the announcement anything more than a bargaining chip with Apple and Amazon.