The object is called a meteor because it is producing a streak of light and has not yet struck Earth.
A meteor is a small body of matter from outer space that enters the earths atmosphere and appears as a streak of light.
A meteor becomes a meteorite when it strikes Earths surface. Because is has not yet struck Earths surface, it is still a meteor.
A meteor was once a meteoroid moving through space, but became a meteor once it entered Earths atmosphere.
