die Spielzeit
playing time
The fixed duration of a sporting event, for example a soccer or handball match.
Die reguläre Spielzeit im Fußball beträgt 90 Minuten.
The regular playing time in soccer is 90 minutes.

playing time / season
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playing time
The fixed duration of a sporting event, for example a soccer or handball match.
Die reguläre Spielzeit im Fußball beträgt 90 Minuten.
The regular playing time in soccer is 90 minutes.

The word is made up of 'das Spiel' (the game/play) and 'die Zeit' (the time). It literally means 'time of the game' or 'time for playing', which explains the different meanings well.
Die Spielzeit ist gleich vorbei und es steht immer noch unentschieden.
Playing time is almost over, and the score is still tied.
The exact meaning of 'Spielzeit' (playing time/season/playtime) becomes clear from context. In sports, people speak of 'reguläre Spielzeit' (regular playing time), in theater of the 'neue Spielzeit' (new season), and with children simply of 'Spielzeit' (playtime) in the afternoon.
In der Verlängerung der Spielzeit fiel das entscheidende Tor.
The decisive goal was scored in extra time.
In a sports context, fixed combinations such as 'reguläre Spielzeit' (regular playing time), 'Nachspielzeit' (stoppage time), or 'Verlängerung der Spielzeit' (extension of playing time/extra time) are very common.
Das Spiel endete nach der regulären Spielzeit unentschieden.
The match ended in a draw after regular playing time.
In the cultural field, people often speak of the 'neue' (new), 'kommende' (coming), or 'letzte' (last) 'Spielzeit' (season). 'Eröffnung der Spielzeit' (opening of the season) is also a common phrase.
Der Intendant plant für die nächste Spielzeit mehrere Klassiker.
The artistic director is planning several classics for the next season.
season
'die Saison' and 'die Spielzeit' can both mean a period during which games are played or performances are staged. In the theater, opera, or an orchestra, 'Spielzeit' is often almost the same as 'Saison': the period with a year's program. In sports, however, there is an important difference. There, 'Saison' means the whole period with many games, for example from summer to spring. 'Spielzeit' can also mean the duration of a single game, for example 90 minutes. That is why the words can be confusing. Ask yourself: Is it about many events within a period, or about the duration of one game?

Nach 90 Minuten Spielzeit stand es immer noch unentschieden.
After 90 minutes of playing time, the score was still tied.
Wegen vieler Verletzungen war die Saison für den Verein sehr schwierig.
Because of many injuries, the season was very difficult for the club.