Yes. 'Content' certainly isn't consumed from the perspective of the content providers, who can keep streaming the same data until they choose not to.

[Edit] Hmmm. Consumption, in the sense of irreversibly using a one-time resource, is sort of relevant. Once I have consumed food, I cannot re-consume it (in it's original form). Using this meaning, however, I 'use' rather than 'consume' a physical book or other format where I have a physical copy of the data (e.g. in the form of a non-rented DVD or similar).