My family was pretty poor growing up, but we had cable. Back in the day there would occasionally be free weekends of Disney Channel, HBO and the like. Whenever there was one of those free weekends, my parents would buy a super long blank VHS tape and record hours of random movies. So for years every movie that I watched had an 800 number that would pop up every few minutes asking you to call and subscribe.
My dad would rent movies from blockbuster then set up the camcorder on a tripod to film the movie off the TV. It was always a big to-do since we all had to be quiet so we didn't ruin the recording...
I think we used a different term for it, so maybe that's a regional abbreviation. But I'm thinking they were talking about the recording quality/speed. I remember there being two options, one gave you twice as many hours but the quality was lower.
This is the movie I thought of also. My copy was also from TV, but I did have it all on one tape with the exception that we were missing the first three or four minutes of the movie. Even today when I catch the beginning of the movie, I smile a little thinking of all the times I didn't get to watch that.