Suppose that instead of paying $17 a month to get the NYT, I pay $20 a month to get that and five other similarly high quality news sources. Does this make it harder to fund journalism? Not at all. The NYT now has (for argument's sake) six times as many subscribers, all paying slightly more than six times as much. So do the five other organizations. And, since the consumer has a much better proposition, people who previously weren't paying will sign up and the total pot will be even bigger. Since all the costs are fixed costs, it doesn't matter if everyone reads six times as many articles. But they won't. They will read slightly more, but benefit much more by having a bigger choice.
This is what we saw with Spotify. You pay about the price of buying one album a month. But you get to listen to much, much, more. Even if you only listen to a few songs a day, the utility of being able to choose from anything is huge. Of course, some people used to spend a lot more each month on physical music. But lots of other people used to spend nothing, since if you only had $15 a month, you could't get much for it.
One problem is that the NYT, the the FT, the New Yorker, etc, each assume that they are uniquely trusted and loved by their audience. But that's only true because of selection bias. No one who values their output to the tune of $3 a month is part of their readership.
In the music industry, the huge monopolists could force adoption of the new model. But they're also the reason musicians don't make much money, since they are now supporting two sets of middlemen - the tech companies and the 'record labels'.