No, I don't think it would limit innovation or dissemination. I think on the contrary it would guarantee payment to creative authors, and because creative authors would be receiving payments for the use of their works, they wouldn't be trying to sue for negligible types and silly uses that have given a very bad name to copyright enforcement.
If copyright owners knew that when their works were being used they were being remunerated, then if they saw somebody making a video with their grandchild dancing to some music, and they nevertheless receive some sort of payment, they would not sue that grandmother and make a fool of themselves.