"Yet the report points out that 'substitution effect' is very small in comparison to the 'market expansion effect' that aggregators cause. According to the research, aggregation services reduce search times and allow readers to consume more news overall. The NERA analysis finds that in the first few months of 2015 after the introduction of the law, publishers saw traffic fall on average more than six percent, while smaller publications saw it drop by 14 percent drop."
But Google was not the worst affected, smaller news aggregators like Meneame suffered more because they didn't have the finnancial muscle to pay even if they wanted
https://www.zdnet.com/article/the-google-news-effect-spain-r...
"Yet the report points out that 'substitution effect' is very small in comparison to the 'market expansion effect' that aggregators cause. According to the research, aggregation services reduce search times and allow readers to consume more news overall. The NERA analysis finds that in the first few months of 2015 after the introduction of the law, publishers saw traffic fall on average more than six percent, while smaller publications saw it drop by 14 percent drop."