Using it to describe streaming services isn’t new. For example, here’s a Variety article from 2019 that uses it that way.

“Streamer” has been a widely-used entertainment-industry term for streaming companies for years. It’s not a new thing people are making up to be cute.

My intuition is that it’s probably in about the same range as the broadcast networks, but I have no numbers to back that up.

I don’t think it can be significantly higher or lower: if the cancellation rate were significantly lower, “streaming services always cancel after one season” wouldn’t have caught on as a perception, and if it were significantly higher, it wouldn’t be as easy to find multi-season streaming shows as it currently is. But is it slightly higher or lower? I have no idea.

I actually did run some numbers on this at one point and found that the cancellation rate on network shows has ranged from 30-50% for the last 70 years, with the average number of seasons hovering just under 2. Reddit post with graphs and sources.

Running the same numbers for streaming services is trickier, and I couldn’t figure out a reliable way to get a good data set to analyze. But even so, the numbers for broadcast TV are high enough that it would be numerically impossible for streaming services to, say, be 3 times more likely to cancel a show after one season.

It is bizarre to me that people act like streaming services invented the concept of canceling series after just one season, or believe that it’s a new practice. Broadcast TV has regularly done exactly the same thing for its entire history. Streaming services almost always at least release all the episodes rather than leaving some of them unaired.