European Union countries have backed a new set of regulations to force Google, Facebook, and other big online companies to pay content creators like artists, new agencies, and broadcasters for their output. That would even include the snippets of stories posted online in services like Google News. Reuters‘ Foo Yun Chee reports from Bussels:
The revamp would require Google and other online platforms to sign licensing agreements with rights holders such as musicians, performers, authors, news publishers and journalists to use their work online.
Google’s YouTube and Facebook’s Instagram and other sharing platforms will have to install upload filters to prevent users from uploading copyrighted materials.
Google, which has lobbied against both features and has even suggested that it might pull Google News from Europe, said last week it would study the text before deciding on its next steps.
Read more here.
Jeremy Jones, CFA
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