Playlists are a good way to group together multiple related videos you want your viewers to see. The great thing about playlists is that they can be dynamic and you can keep the Playlist embedded while updating its content. You can see that a object is a playlist by looking at the subtype "Playlist".
A Playlist can be created either by pressing the "+ New" button from the Media Library, and select the "Playlist" option. Every playlist in your library will be located under the "Playlists" Category tab on the left hand side.
In order to create playlist you should click on "Add New Playlist" button on the gray panel on the left. By clicking on that a pop-up shows up to ask your playlist title. After creating, you will automatically be moved within the playlist property window.
From here you can choose and select which videos from your library that you want to be a part of your playlist.
There are no restrictions of what types Medias that can be part of your playlist, it can be both live-events and/or interactive videos and are embedded just like any other Medias.
The key difference between a normal Video and a Playlist is the menu that allows users to navigate between the listed Videos.