[bobdvb]

If the ad revenue isn't measured in terms of the consumption on the pirate streams then it's not ad revenue. Advertisers don't pay for eyeballs they can't quantify.

If content is consumed via an illegal streaming site then it's potentially hurting revenues elsewhere.

[slackfan]

Assuming those eyeballs would ever hit a legal streaming site.

By the time the content airs, the advertising money's mostly been made and traded already. In the terrestrial broadcasting world -- this is most definitely the case.