"This is the same way fm radio and old school television is broadcast, as a mid signal and a side signal. There are technical reasons that I can't remember as to why it is a better way to broadcast, but I can't recall the specifics right now."
Back in The Day, all radio signals had to go down telephone lines rented from the phone company (BT here). Those lines needed to be matched for phase and response equality otherwise they screwed the stereo image (imagine using a cap mic for left and a dymo for right!) . The broadcasters did their best with complex equalizers but the best way is to split the signal into L+R and L-R . The matching of the lines is now much less critical since anomalies only result in increased crosstalk and as has been said, if you have the signal in its algebraic parts you can, to some extent, correct for that.
This is why, for slightly similar reasons, UK eschewed "Never Twice Same Colour" for CTV !
Dave.