diff --git a/homeassistant/components/camera/__init__.py b/homeassistant/components/camera/__init__.py
index 5ac981e9d93..ff4687dd493 100644
--- a/homeassistant/components/camera/__init__.py
+++ b/homeassistant/components/camera/__init__.py
@@ -391,6 +391,7 @@ async def async_setup(hass: HomeAssistant, config: ConfigType) -> bool:
     )
 
     prefs = CameraPreferences(hass)
+    await prefs.async_load()
     hass.data[DATA_CAMERA_PREFS] = prefs
 
     hass.http.register_view(CameraImageView(component))
diff --git a/homeassistant/components/camera/prefs.py b/homeassistant/components/camera/prefs.py
index 160f896c86c..7f3f142378a 100644
--- a/homeassistant/components/camera/prefs.py
+++ b/homeassistant/components/camera/prefs.py
@@ -29,6 +29,8 @@ class DynamicStreamSettings:
 class CameraPreferences:
     """Handle camera preferences."""
 
+    _preload_prefs: dict[str, dict[str, bool | Orientation]]
+
     def __init__(self, hass: HomeAssistant) -> None:
         """Initialize camera prefs."""
         self._hass = hass
@@ -41,6 +43,10 @@ class CameraPreferences:
             str, DynamicStreamSettings
         ] = {}
 
+    async def async_load(self) -> None:
+        """Initialize the camera preferences."""
+        self._preload_prefs = await self._store.async_load() or {}
+
     async def async_update(
         self,
         entity_id: str,
@@ -63,9 +69,8 @@ class CameraPreferences:
         if preload_stream is not UNDEFINED:
             if dynamic_stream_settings:
                 dynamic_stream_settings.preload_stream = preload_stream
-            preload_prefs = await self._store.async_load() or {}
-            preload_prefs[entity_id] = {PREF_PRELOAD_STREAM: preload_stream}
-            await self._store.async_save(preload_prefs)
+            self._preload_prefs[entity_id] = {PREF_PRELOAD_STREAM: preload_stream}
+            await self._store.async_save(self._preload_prefs)
 
         if orientation is not UNDEFINED:
             if (registry := er.async_get(self._hass)).async_get(entity_id):
@@ -91,10 +96,10 @@ class CameraPreferences:
         # Get orientation setting from entity registry
         reg_entry = er.async_get(self._hass).async_get(entity_id)
         er_prefs: Mapping = reg_entry.options.get(DOMAIN, {}) if reg_entry else {}
-        preload_prefs = await self._store.async_load() or {}
         settings = DynamicStreamSettings(
             preload_stream=cast(
-                bool, preload_prefs.get(entity_id, {}).get(PREF_PRELOAD_STREAM, False)
+                bool,
+                self._preload_prefs.get(entity_id, {}).get(PREF_PRELOAD_STREAM, False),
             ),
             orientation=er_prefs.get(PREF_ORIENTATION, Orientation.NO_TRANSFORM),
         )