Earlier quoted context omitted.
Don't you think the most likely outcome of this is the far majority of older media titles will just no longer be available in the EU indefinitely? It will be unreasonably difficult and just not worth it to track down and negotiate with all the various the owners for each territory for most older titles.
Why would that happen? I'm pretty sure that whoever the owner of those rights are, they want to make money out of them.
Annoyingly I can't find the link, but IIRC the BBC originally looked into making everything it had ever made in its giant archives available to stream. Even for the content the BBC produced and owned internally, which is a huge amount, they determined it simply wasn't possible to offer the full BBC back catalog all the time on their service - tracking down the various rights holders, actors, and other parties to the content to renegotiate for streaming was an impossible undertaking. A real shame - a readily accessible public database of all of the BBC's content would have been incredible, especially when so much of it was paid for by UK tax payers.
The last Labour government in 2010 was looking at options to legislate to absolve the BBC of these responsiblities, but sadly it didn't go anywhere. This is absolutely a problem that will need legal changes to fix for old content, realistically.