Not everyone has TiVo/DVR.
In fact, I suspect maybe 30% of the US population does, at best.
I love this movie so much I own a copy. On VHS no less - got it years ago.
As for the reason for a 24 hour loop I like anyrose’s hypothesis best. Besides what would you guys prefer, 24 hours of roaring log fire video? 
with nice music behind it? yes. I’d much prefer that.
A few years ago, some network or another did all three Star Wars movies in a row on Christmas Eve (but thankfully not, of course, the holiday special). Which makes no sense at all, but somehow works.