This morning Apple announced one of the major enhancements in iOS 14, the latest update to iPhone, is the ability to stream video in picture-in-picture. Similar to the feature on iPad, you can tap out of video and a small player will display the home screen. You can move around the video player to any part of the screen.
The feature is also supported when you’re in third-party apps, so you can continue to stream while you’re using another app. If you need your full-screen, you can push the video off-screen and continue to listening to just the audio.
Last year, Apple quietly added PIP support in tvOS 12, which allowed you continue watching video in the TV App as you browse on Apple TV. Apple has also included new enhancements to widgets, Siri, and better sorting of apps in iOS 14.