Apple Music through Verizon converting to Apple One

Currently, my son has Apple Music through Verizon (a paid subscription), and my husband has Apple Music on his own Apple ID. I'd like to consolidate this to Apple One. Both use an Apple ID that is our Family Sharing account, but they are not paid for through the family sharing account because they were signed up for at different times, and my husband's phone is provided through work so not paid through our Verizon account.

If we consolidate to Apple One, will they both lose their songs and playlists if the Apple ID for the associated account stays the same, regardless of how it is paid? I hope this makes sense. For some reason, this is very complicated for me. LOL.