I think it's likely to backfire in the EU. It's a terrible idea. The ostensible purpose is to force Facebook and Google and the other big tech companies, which the Europeans are rightly concerned about, to pay for more content. The more regulations apply in this context, the more it's actually going to entrench the powerful positions of the companies that can afford to pay those royalties and comply with the regulatory requirements like upload filters. I read a great article that said that Google's first choice is no regulation, and their second choice is lots of regulation. This is a terrible idea.
On November 28th, 2018. See this statement in context.