Okay kiddo, let's imagine we are playing a game where we have to act out a story. Playout is when we take turns being the characters in the story and acting out what they say and do. We can do this with a script or just make it up as we go along.
Now imagine we are watching a TV show or a movie. Before we can see it, the people who made it need to play it out too. They have to act out all the scenes in the story and record it so people can watch it later. This is called playout as well.
Did that make sense, little one?