EU has approved a copyright rule for Google and Facebook. Under the new copyright rules, the search engine giant will have to pay publishers for news snippets, and FB will need to filter out protected content. The new ruling is aimed at ensuring fair compensation for the EU US$1 trillion creative industries.
Two years ago, the EU government backed the move to protect European creative industries. “When it comes to completing Europe’s digital single market, the copyright reform is the missing piece of the puzzle,” EU’s president Jean-Claude Juncker said in a statement.
As per the new law, Google and other online platforms will have to sign licensing agreements with authors, news publishers and Journalists to publish their content online. “The new rules would hurt Europe’s creative and digital economics,” Google said. The rules indicate EU countries have two years to move the copyright directive into national laws.