diff --git a/README.md b/README.md
index 418203eea9..6c34ba46dc 100644
--- a/README.md
+++ b/README.md
@@ -355,6 +355,10 @@ If you fork the project on GitHub, you can run your fork's [build workflow](.git
                                     available. Pass the minimum number of
                                     seconds (or range) to wait between retries
     --no-wait-for-video             Do not wait for scheduled streams (default)
+    --wait-retries RETRIES          Number of retries while waiting for
+                                    scheduled streams to become available
+                                    (default is infinite). --wait-for-video must
+                                    also be set
     --mark-watched                  Mark videos watched (even with --simulate)
     --no-mark-watched               Do not mark videos watched (default)
     --color [STREAM:]POLICY         Whether to emit color codes in output,
diff --git a/yt_dlp/YoutubeDL.py b/yt_dlp/YoutubeDL.py
index f08a31afac..2dcfde92de 100644
--- a/yt_dlp/YoutubeDL.py
+++ b/yt_dlp/YoutubeDL.py
@@ -1620,17 +1620,26 @@ class YoutubeDL:
     def _handle_extraction_exceptions(func):
         @functools.wraps(func)
         def wrapper(self, *args, **kwargs):
+            wait_retries = 1
+            max_wait_retries = self.params.get('wait_retries')
             while True:
                 try:
                     return func(self, *args, **kwargs)
                 except (CookieLoadError, DownloadCancelled, LazyList.IndexError, PagedList.IndexError):
                     raise
                 except ReExtractInfo as e:
+                    if wait_retries > max_wait_retries:
+                        if max_wait_retries > 0:
+                            self.report_error(f'Giving up after {wait_retries - 1} {"retries" if wait_retries > 2 else "retry"} while waiting.')
+                        else:
+                            self.report_error(f'Video is still unavailable after waiting.')
+                        raise UserNotLive('Maximum number of retries exceeded while waiting for stream')
                     if e.expected:
                         self.to_screen(f'{e}; Re-extracting data')
                     else:
                         self.to_stderr('\r')
                         self.report_warning(f'{e}; Re-extracting data')
+                    wait_retries += 1
                     continue
                 except GeoRestrictedError as e:
                     msg = e.msg
diff --git a/yt_dlp/__init__.py b/yt_dlp/__init__.py
index 9b3bd4acd2..5dc989873c 100644
--- a/yt_dlp/__init__.py
+++ b/yt_dlp/__init__.py
@@ -266,6 +266,7 @@ def validate_options(opts):
 
     opts.retries = parse_retries('download', opts.retries)
     opts.fragment_retries = parse_retries('fragment', opts.fragment_retries)
+    opts.wait_retries = parse_retries('waiting', opts.wait_retries)
     opts.extractor_retries = parse_retries('extractor', opts.extractor_retries)
     opts.file_access_retries = parse_retries('file access', opts.file_access_retries)
 
@@ -926,6 +927,7 @@ def parse_options(argv=None):
         'extract_flat': opts.extract_flat,
         'live_from_start': opts.live_from_start,
         'wait_for_video': opts.wait_for_video,
+        'wait_retries': opts.wait_retries,
         'mark_watched': opts.mark_watched,
         'merge_output_format': opts.merge_output_format,
         'final_ext': final_ext,
diff --git a/yt_dlp/options.py b/yt_dlp/options.py
index c4d2a72743..e4df4e59eb 100644
--- a/yt_dlp/options.py
+++ b/yt_dlp/options.py
@@ -442,6 +442,10 @@ def create_parser():
         '--no-wait-for-video',
         dest='wait_for_video', action='store_const', const=None,
         help='Do not wait for scheduled streams (default)')
+    general.add_option(
+        '--wait-retries',
+        dest='wait_retries', metavar='RETRIES', default="infinite",
+        help='Number of retries while waiting for scheduled streams to become available (default is %default). --wait-for-video must also be set')
     general.add_option(
         '--mark-watched',
         action='store_true', dest='mark_watched', default=False,