There are two main problems with digital piracy. First, it robs the creator of their income. It’s not just big companies who suffer – the people working behind the scenes lose out too.
No, robbery is theft under the threat of violence. Theft requires an intent to deprive the owner of their possession. Copyright infringement is not theft.
Businesses do not have a right to peoples' money.
Second, piracy is illegal. Penalties for stealing digital content vary from country to country, but they can be quite harsh. In the UK, digital pirates face up to five years in prison and a £5000 GBP fine (~$6000)
Criminal copyright infringement might attract prison time, but that has a fairly high bar, and is typically focused on profiting from piracy. Most copyright infringement is not a crime, but a civil offense - and it's only because of extensive lobbying by greedy businesses that crimes have been established on the books.
Outside of the US, copyright infringement can only attract actual damages, ie the proveable loss in income. Given that you can't easily prove that someone would've paid for the things they pirate, outside of the US there never really have been big cases of people downloading things being charged and facing significant fines.
What has changed?
The EUIPO speculates that financial pressures, like inflation, means that people have less money to spend on entertainment. This can be seen in the way that fewer people are signing up for Netflix or Amazon Prime – and some are even cancelling their subscriptions altogether.
The EUIPO suggests that rather than stop watching digital content online, these people are now turning to illegal sources to access the TV shows they watch. And that is why piracy rates are on the up.
Of course, it has nothing to do with the quality of these services going down as their prices go up...