Imposition of Article 13 by European Union could be disastrous for YouTube

Its look like European Union is very serious about the copyright preservation for that reason European Union is working on article 13 that will ultimately put some strict regulation on the violation of copyright law, a heavy fine will be imposed on if a violation has been found and it looks like YouTube will hurt a lot from.

For that reason, YouTube is too much worry about European Union new regulation as it is very difficult for YouTube to give credit to all copyright stakeholder. This was further confirmed by CEO Susan Wojcicki by quoting the example of Despacito which has been watched by more than 5 billion times since uploaded in January.
"The video contains multiple copyrights, ranging from sound recording to publishing rights. Although YouTube has agreements with multiple entities to license and pay for the video, some of the rights holders remain unknown. That uncertainty means we might have to block videos like this to avoid liability under article 13."
YouTube further stated that it will not only affect YouTube but it will also hit the content creator as well that may lead to bankruptcy. YouTube is in the very critical situation, if the European Union imposed article 13 then definitely it will put YouTube in deep trouble but at the same time it will give the boost to Netflix, though both have a different business model but belongs to the same entertainment industry.

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Imposition of Article 13 by European Union could be disastrous for YouTube, The Potential Unintended Consequences of Article 13
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