If we're to assume their paranoia about piracy is because they've done the math, then clearly HBO considers it significant.
I don't think they've done the math, because I think "market research" into the underground world of private torrent trackers is, uhh, a lot harder than you seem to think it is, trust me. If HBO were running ads on a site like TorrentFreak to take a survey, then perhaps I'd think they're actually doing their due diligence in this area, but they're not.
I'll offer an alternative hypothesis (blowhard: I worked in digital video distribution for a paytv software company for 4 years)
HBO is clinging to their legacy business model. The direct Internet streaming market is untrusted and scary. They're afraid to even attempt to cross the bridge.
I don't think they've done the math, because I think "market research" into the underground world of private torrent trackers is, uhh, a lot harder than you seem to think it is, trust me. If HBO were running ads on a site like TorrentFreak to take a survey, then perhaps I'd think they're actually doing their due diligence in this area, but they're not.
I'll offer an alternative hypothesis (blowhard: I worked in digital video distribution for a paytv software company for 4 years)
HBO is clinging to their legacy business model. The direct Internet streaming market is untrusted and scary. They're afraid to even attempt to cross the bridge.