Only if you knew that was already going on. Security by obscurity, but still, I don't believe this kind of watermarking was ever used.
Maybe something like Cinavia[1] could be used instead? It's an analog watermarking system for detecting pirated copies and refusing to play them if player detects such copy is played on something else than bluray disc. Apparently this survives transcoding, and was/is major pain for people ripping their discs for various reasons and trying to play the files on certified players.