It is not faster. The point of HLS is that it dynamically adapts to the available network bandwidth. Automatically switching to a lower quality video stream when the download speed is reduced. You get to keep watching the movie without the annoying spinner.
HLS is a version of the generic Adaptive bitrate streaming protocol. There are several competing implementations, they all work the same way but have incompatible details:
- HLS is Apple's HTTP Live Streaming protocol
- HDS is Adobe's HTTP Dynamic Streaming
- Microsoft's version is Microsoft Smooth Streaming
- DASH is an industry standard, Dynamic Adaptive Streaming over HTTP. The standard to replace them all, thus adding a 4th standard.
The principle behind it is very simple. The content provider generates a handful of different encodings of the source material with different quality settings. Split up into segments, each several seconds worth of video. And a manifest that describes these streams and segments, a simple XML file.
The client video player first downloads the manifest and starts downloading the first segment of the lowest quality encoding. Playback starts almost immediately. The player keeps downloading segments one by one and monitors how quickly it can get them. If throughput is good then it switches to a higher quality encoding. And conversely, when the player is in danger of running behind then it switches to a lower quality. Thus dynamically adapting to changing network load.