Live streaming for exiles would be nice I'm sure, but it's a pretty small market.
While it's not all about making money, there would be a cost involved that wouldn't come back.
It's just frustrating that when they're already filming and commentating on almost every game, they can't go the final few yards so we can see the pictures alongside the live comms... or even just the pictures.
The bandwidth cost of the actual streaming is probably pretty small... in the absence of any other overheads, I'd guess they'd be more than covered if every viewer was asked to pay a couple of quid to watch every week. Or it could just be considered a Well Society perk for overseas members, since the other ones aren't usually much use to us. (Though here in Ireland, I'd lose out both ways as they're not allowed to live stream Scottish fitba' here either...)
The whole rights/geolocation issue is the main problem I presume -- as far as I know, none of the 'simple' solutions (YouTube, Facebook, Periscope, uStream and whatnot) have either a way to stream to paid subscribers only, or to block viewers by IP or location. So presumably the club would need to pay for some bespoke solution, and that's what'd put the price up for viewers.