A video reception device, comprising a single video decoder, may dynamically allocate media-processing resources based on QoS parameters associated with the received time-sensitive and non-time-sensitive video streams. The single video decoder is utilized to decode the content of the received time-sensitive and non-time-sensitive video streams for display. The QoS parameters associated with the received time-sensitive and non-time-sensitive video streams are mapped to corresponding media-processing resource requirements at the video reception device. The video reception device performs resource allocation for the received time-sensitive and non-time-sensitive video streams based on the corresponding media-processing resource requirements. Multi-dimensional resources allocation metrics are selected or formed from the corresponding associated QoS parameters for media-processing resource allocation. The video reception device starts resource allocation for the received time-sensitive video streams. Un-used portions of the allocated media-processing resources to the received time-sensitive video streams are re-allocated to process the received non-time-sensitive video streams.