Because the record companies insist on following a dramatically failing business model, the EU now wants to encourage their incompetence. They want to raise the period that a rightsholder has rights to their performance (of any song, not necessarily one their own) from 50 years to 95 years, like in the US.
One of the claimed arguments is that if you performed something at the age of 20, when you’re 70 you won’t have any income from it any more. Of course, maybe you should just work in the intervening 50 years and build up a pension just like the rest of us.
More than that though, it props up the incompetent recording companies who we don’t really need as we can see by the increasing amount of independant production companies and the falling sales. They generally own the rights of a performance as they generally strip these rights off the happless 20 year old performer who is only too happy to be given the chance to perform at all.