You have to have a story going on in your video itself. Just combining a bunch of clips together to a song with stock effects won't drive viewers in. I can easily find anyone doing that on YouTube Really dig into the song lyrics, what they mean, and then create a mini-story using the clips in that.
After the video, I didn't really get the catch of what your channel will be about. It's fan made music videos, but what makes yours so special from the others? Why should I subscribe? Your editing skills being different won't cut it. You have to find a thesis or mission statement for your channel that makes it unique from the others.
Also helps if you spread the same effects you use out a little more. It feels like you are using the same effects over and over.