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We present a streaming compression algorithm for huge time-varying aerial imagery. New airborne optical sensors are capable of collecting billion-pixel images at multiple frames per second. These images must be transmitted through a low-bandwidth pipe requiring aggressive compression techniques. We achieve such compression by treating foreground portions of the imagery separately from background portions. Foreground information consists of moving objects, which form a tiny fraction of the total pixels. Background areas are compressed effectively over time using streaming wavelet analysis to compute a compact video texture map that represents several frames of raw input images. This map can be rendered efficiently using an algorithm amenable to GPU implementation. The core algorithmic contributions of this work are methods for fast, low-memory streaming wavelet compression and efficient display of wavelet video textures resulting from such compression.