Hello Tammy Triplett,
That is correct.
For File Uploads - Igloo will only allow files under 2 GB to be uploaded to the platform (https://customercare.igloosoftware.com/support/knowledgebase/all_articles/articles/add_folder_files).
For Previewing/Streaming - files must be under 1 GB in order to be viewable on the platform without downloading (https://customercare.igloosoftware.com/support/knowledgebase/all_articles/articles/file_preview).
Please let me know if you have any questions.