Ever since taking on Netflix Inc. at its own game, old Hollywood has struggled to turn a profit in streaming, with the likes of Disney+, Peacock and Paramount+ losing billions of dollars each year, sparking concerns on Wall Street that the services will never be as profitable as cable once was. But the age of streaming has been a boon for some unintended winners: pirates that use software to rip a film or television show in seconds from legitimate online video platforms and host the titles on their own, illegitimate services, which rake in about $2 billion annually from ads and subscriptions.

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