Never mind that the industries claiming losses are simultaneously attempting to deny the traditional rights and product usability of their potential customers. Owning a physical copy of a copyrighted product once granted the right to lend that copy to others. That is now being denied with digital copy protection. Owning a physical copy once granted it's use as long as the physical copy existed. That is now being denied by systematic technical obsolescence and the shutting down of digital license servers (usually due to company insolvency.) Copyrights once lasted 25 years. Now copyright holders are attempting to extend copyrights almost indefinitely. The copyright act once allowed the use of small portions for inclusion in larger artistic works. Copyright owners now want that use denied. The use of copyrighted materials was once allowed for academic research. That is now being denied. Even worse, research of digital protection schemes can (and has) resulted in the arrest of academic researchers. Those are just the issues I can think of off the top of my head.
Then there is the larger issue of actual copyright ownership. Many works were stolen from their creators under existing copyright laws. The issue with "Happy Birthday" is probably the most prominent but there are many more egregious examples that number in the many, many thousands. Such practices were once common practice in the entertainment industry. Most of today's large media companies exist due to shady business practices that include filing false copyright claims or de facto stealing of the copyrights to works and performances. Now the worm has turned and they cry "poor us" as they walk away with millions in profits from copyrights that rightfully belonged to artists that died in, or due to, poverty.
Do I care if big media companies are experiencing losses due to piracy? Not really. Once they compensate the poor, the impoverished and dead (how is that done?), I might give a tiny tear. Today's big media companies were built on theft and deceit. Now they are simply using technology, lobbyists and lawyers to do to consumers what they did to artists in the past.