This question already has an answer here:
In order to avoid fairing to get wet in water, why can't SpaceX just deploy something such that when fairings separate from the Falcon 9 then from inside some raincoat type waterproofing to just cover the whole fairing and let it fall on the water.
Then it would not need to have a boat like Mr Steven. Would that be a simpler, cheaper solution?
The last launch which was on 25th July, Payload was 9,600 kg to LEO, and second last launch which was on July 22 Payload was 7,075 kg to GTO, where Falcon 9 Payload capacity to GTO and LEO is 22,800 Kg and 8,300 respectively.
As according to last two launches there is enough additional space left for adding any small stuff, the weight of adding the material to cover the whole fairing must be addable in that range I think, so overall there will be no cost for extra fueling or something. The only cost for SpaceX will be to build this material which will be very cheap. Also a nose cone costs around $6M, and the material cost will be very cheaper than that cost. Also when SpaceX will be able to catch the fairings then they can stop adding this module, but currently as they are losing money. Why not use an approach like this?
Note: The question Why can't Falcon 9 fairings touch the water? answers the why. My question is about a method to prevent that.