Learned this while working stage crew at a working theater in college (the house crew would be responsible for running cables for the college's shows but also help load in / load out visiting shows like symphonies, regional ballet, touring musicals, etc.) Expensive audio cable and power cable would sometimes have to be run all over the damned place, and shows requiring extra tech, i.e. more specialty lights or sound reinforcement than was "built in" for that particular house, would need even more. Just astounding lengths of cable sometimes.
It was referred to as "backcoiling".
If we didn't backcoil the cable, it'd take godawful forever to set up the next time (bad) and would reduce the working life of the expensive cable (worse). You learned not to mess it up real quick, especially when interacting with the IATSE union techs on some traveling shows, who had very little patience for stupid college kids touching their cables if you didn't immediately show that you knew what you were doing.
I still do this with any long cable, rope, hose, etc. a couple of decades later, and it's oddly soothing and satisfying. We learned to do this very fast BTW; the video shows a gent demonstrating the technique very slowly with short cable/small loops, but you can do it wicked quick with large loops in a long cable. Part of the draw is that you can coil/uncoil very quickly indeed.
I'm still occasionally surprised when I meet someone who works with long lengths of anything who doesn't know this technique -- climbers, for example. Not that this technique obviates the need to flake your rope before using it, as thaumatechnica points out -- but clemoh is dead right; with actual A/V cabling you can just drop the coil next to an outlet and walk away with the top end to wherever you need to plug it, or plug one end and carry the coil loosely to another destination with loops dropping off your hand naturally as you walk. It's, like, magical