The EU has moved forward to approve a bill that will force major social media and web companies to pay for hosting copyrighted material on their various platforms.
This is a push to get the creative industry to cash up on their copyrighted material which appears on popular website such as Facebook, Twitter and Yahoo.
In the poll that was carried out in the European government, the representatives voted 486 to 226 to put the law into action. The law puts the major players in the social media industry liable for any copyrighted material that is uploaded to the platforms and any violation will lead to the companies paying up for compensation.
The European lawmakers who approved the bill said that the media companies gain followers and users when art and other creative material when the creators of such content do not receive anything in exchange.
Many social media companies depend on creative content to hold on to a big bunch of their users and this is certainly going to be a big blow to them as it guarantees them massive losses of users unless they come up with something fast enough.
Facebook, YouTube and the newcomer in the name of Google news are going to be the ones which feel the effects of this law as much of their content is user generated and users do not mainly consider the implications of posting copyrighted material onto the platforms.
One of the aggregators of the law, Axel Voss says, “I am very glad that despite the very strong lobbying campaign by the Internet giants, there is now a majority in the full house backing the need to protect the principle of fair pay for European creative content.”
Voss is one of the strong supporters of the bill which seeks to protect creative artists and companies from the violation of their creative content. The supporters of the bill claim that American companies make billions in terms of profits using the creative content uploaded to their platforms by their users. The creators of the content in turn get nothing in return.
This bill is surely going to make social media companies across the world to start filtering content that their users are uploading which represents added operation costs. The move has however been refuted by Wikipedia founder who claims that the laws go against the tenets of the internet which state that the internet is a free platform.
The bill’s passing will surely have a lot of implications and let us see what these companies are going to do about it.