Netflix invests heavily in original content. The Old Guard reportedly cost $70 million. While the film was a streaming success (72 million households in first month), piracy still undermines revenue models. Unlike theatrical films, streamers rely on subscriber retention, not per-sale tickets. However, widespread piracy can discourage reinvestment in sequels — ironically, a sequel to The Old Guard was greenlit, showing that popularity (legal or pirated) can signal demand.