People stream, but the numbers still show that more people watch live sports via over-the-air, satellite, and cable. Plus, when it comes to packages (including steaming services like Sling and YouTube TV), it doesn't matter whether a subscriber is actually watching the channel for it to make money. The services pay per subscriber fees. So it is absolutely true to say that new markets are driving these decisions.
My argument was that if SEC missed out on UNC, NC State would be a great second option to help North Carolina market. However, the numbers are not there to justify it. The team needs to bring ~$ 100 million or more in cost to even be considered by SEC. Very few programs bring that now.