Can anyone explain how this differs from HTTPS in terms of features and goals?
This means that the heavy lifting of distributing video can be done by CDNs, with the high-value keys/licenses going over secure links.
And there's more to this than just the transport encryption: it provides a standard API for decryption modules in the client, so a browser doesn't have to understand the details of every technology.
The goal here is to break the end-user's ability to access the material at will.