In 2021, Ithaka S+R conducted a survey designed to provide insight into the streaming media strategies libraries are adopting and the challenges they are facing. The survey tracked the vendors libraries are most commonly working with, acquisition models and licensing agreements, current and projected budgets for streaming, and the digitization of physical media. The key findings provide essential insight into how libraries' streaming media strategies are evolving: (1) "the impact on instruction" is the top factor driving academic library decision-making related to purchasing and renewing streaming license; (2) "streaming media" is a growing segment of the library materials budget, with its footprint projected to double over the next five years; (3) "digitizing VHS tapes and DVDs is happening at a much smaller scale" relative to libraries' purchasing and licensing approaches to addressing streaming media demand; and (4) "libraries in Canada and the US are taking a fairly similar approach in their" streaming media strategies, with a major exception being the extent to which their strategies evolved in response to the pandemic. The library's emphasis on meeting instructional needs when purchasing and licensing streaming media content necessitates a strong alignment with the university's pedagogical goals. The report concludes with reflections for both libraries and streaming media providers as they navigate the teaching and learning opportunities presented by the streaming format.