Well even a 720p Video would only consume about 800-900 Mb per hour so if he is it would have to be a 1080p stream I can't see Satellite streaming that fast. Even at 5-6 Mbps it would buffer a lot.
It really isn't so much the business model as it is the costs associated with satellite internet.
A new satellite cost upwards of 500 million dollars. Add to that launch and insurance costs. Remember the satellite is only going to have a 12 to 15 year lifespan then must be replaced. It cant be repaired or its capacity expanded.
To the above, you can add in the costs of building, maintaining and staffing numerous uplink/downlink facilities known as Gateways and the building and staffing of NOC's.
Compare this to ground based ISP's that can lay a fiber optic cable much cheaper and use it for decades.
The key point is .... those ground based ISP's have decided it does not make good economic sense to serve your area.
Satellite service is a highspeed service of last resort.