You might find it obvious that piracy must reduce income, but I don't think that's obvious at all. I don't pretend to know one way or the other. I think it's approximately just as likely that, at least in some cases, piracy can and has INCREASED income, by increasing hype and interest in a given movie or recording, which drives more awareness of it, which then eventually leads to some sales. Anecdotally, speaking only for myself, I'll admit to having pirated some media, gotten very interested, and then purchased that same media, either to reward the creators, or because I wanted a legit copy or a higher-quality copy, etc. I've also pirated some media, gotten interested, and then recommended it to many others, some of whom have then purchased it.
Why do you think it's obvious that piracy will always reduce income?
Why do you think it's obvious that piracy will always reduce income?