Ah, so they are being "robbed of advertising dollars" because they assume that password stealers would otherwise be legitimate subscribers? Ha. In the meantime, a non-subscriber viewing something isn't technically taking anyone's money and this type of weasel-wording keeps public opinion against them.

Also, they would be wise to get advertising dollars per viewer as TV streams are often legally multiplexed in a household. This had traditionally been the case in the pre-digital world w/ Nielsen ratings.

This is a false premise, if they actually sell that way.

Newspapers used to estimate IIRC that each paper was viewed by an average of three people, therefore the advertising “reach” was standardized as such.

It’s all a bit arbitrary, in the case of paying for eyeballs, as opposed to clicks.

The only revenue they are losing that is real revenue is subscription revenue.