A local playlist is a playlist stored on the viewing device or a storage location it can read, rather than fetched afresh from a remote playlist address. It can be useful for controlled media collections or offline organisation. Internet entries inside that file still need working network access when selected for playback.

A practical example
A laptop user saves a playlist file in a chosen folder and opens it in a compatible player. The playlist remains available as a file, but internet stream addresses inside it can still expire or require an active account later.
A common misunderstanding
Saving a playlist locally does not download its referenced films or extend access to its streams. Backups containing private URLs also need the same care as account credentials.
Related terms
Stable technical definition. Editorial approach