Absolutely. And you'll find my post on that whole debacle in the "No Disney+ for the UK" thread.I suspect you are right about piracy.
There's been a huge turnaround for the music industry, and it wasn't down to any of their rather Draconian attempts to put people off piracy , but down to the likes of Spotify simply offering a good service at a good price. Simple really.
Downside for the artists - the rate paid for listens (Which means many fewer people buying Albums) is really miniscule. But still better than the Piracy days, which seriously got close to shutting down the Industry for any but the biggest Artists, whatever you might read.