Due to increased demand in multimedia streaming over Internet, research focus is directed to derive new protocols with added features. These protocols can be best adjusted to multimedia traffic over the Internet. The operations of multimedia networks require fast and high processing communication systems, because sometimes prompt delivery of information is critical. The behavior of different transport protocol can affect the quality of service. The advancement in hardware technologies used at the physical layer and TCP/IP suite has made a great progress, but other layers could not progress with the same pace. This paper argues the challenges posed by multimedia traffic on other layers and their effect on the transport layer services. Numerous papers have illustrated transport protocols for multimedia networks in some preferred and particular scenarios. However, no one have discussed the effect of channel fading on these protocols. Six existing protocols and their performances under Nagagami-m channel are the theme of this paper with respect to suitability for multimedia applications, and the performances of these protocols have been evaluated. This paper concludes that extra effort are essential on the transport protocol for achieving better performance of multimedia networks which will fulfill the various necessities of evolving multimedia applications, specifically under fading channels.