I'm surprised this hasn't happened already, in at least some form. The Netflix/Amazon/Hulu/etc. brands only continue to rise in both prominence, size of content libraries, and legitimacy as media distributors. I wonder if the airlines have considered replacing their decades-old model of individually negotiating content from studios and putting it on their planes, vs. striking a large agreement with one of the streamers. The streamers would then be in charge of all technology and logistics (which some are pretty good at), and it'd also be a small advertisement for their streaming platform.

Technologically, it doesn't have to be live-streaming over a satellite internet network, but rather content on aircraft servers or IFE memory. Technically the streamers (and most websites) already do this on the regular internet, via CDNs.