M3U8 playlists are text files containing lists of HLS streaming URLs. In the context of IPTV, an M3U8 playlist acts like a channel list — each entry points to a live TV channel or on-demand video stream. Unlike traditional M3U playlists, M3U8 uses UTF-8 encoding and is the standard format for HLS-based streaming.
Live playlists continuously update with new .ts segments as the broadcast progresses, while VOD (Video on Demand) playlists reference a fixed set of segments for pre-recorded content.