Eagle777

Hi all! I have a question which I have been trying to find a clear answer to for a while now... And so far it has been a somewhat frustrating search. I would be delighted if someone can help. I am a musician located in New Zealand, I have a basic studio recording setup at home. I would like to make instrumental recordings of copyrighted songs, and upload them onto YouTube for the enjoyment of others. This will be completely non-commercial and ad-free. What type of permissions/licenses do I need to obtain for this? What's the deal with "fair use" conditions being exempt from copyright? Would my situation fall in that category? Thank you very much, eagerly awaiting your replies.