I think licensing becomes a bigger issue if you try to run a radio station on YouTube with any commercial music. Even if you're OK from all copyright perspectives and fully-licensed, YouTube's copyright system is really easy to abuse.
What should be a good deal more cost-effective is an old-fashioned, Icecast/Shoutcast/Azuracast-based internet radio station.
BGM channel is more a cover band than a radio station. I don’t know the details, but it is my impression that YouTube strikes are for copyrighted _recordings_ and not copyrighted written music.
In the same vain, I think that lo fi is more a DJ (in the modern musician sense) that was good at automating and promoting himself rather than someone choosing other people’s recordings. I don’t know the sample sources at all
