In a copyright case closely watched by content creators, the U.S. Supreme Court held, 7-2, that the first fair use factor—“the purpose and character of the use” —weighed against Andy Warhol’s use of Lynn Goldsmith’s black-and-white photograph of Prince to create a colorful silk-screen illustration of the musician that was later licensed to Vanity Fair without Goldsmith’s consent. Justice Sonia Sotomayor, writing for the majority, first explained that courts analyzing the first fair use factor...