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How to add images to m3u8 playlist entries?

I’m assembling a m3u8 playlist of TV live streams. The streams themselves are m3u8 files on the web. I would like to add icons the the entries of the playlist. Unfortunately I was not successful in that the VLC Player does not show any of the icon images.

This is how the playlist file looks like principally:

#EXTM3U
#EXTINF:-1,Channel Name 1
#EXTIMG: https://channel1.example.com/logo.png
https://channel1.example.com/master.m3u8
#EXTINF:-1,Channel Name 2
#EXTIMG: https://channel2.example.com/favicon.ico
https://channel2.example.com/master.m3u8
#EXTINF:-1,Channel Name 3
#EXTIMG: https://channel3.example.com/logo.png
https://channel3.example.com/index.m3u8

I considered the problem to be that the icon images are located on the web. So I downloaded on of them the used a local absolute path to point to the image inside the m3u8 file. That did not change anything AFAICS.

Is it because the playlist is structured as m3u8 files inside a m3u8 file (which generally should be OK, at least others do it also)? Or is it because the nested m3u8 files consist of a couple of parts and the image should be declared in the nested m3u8s (which are out of my control)? Another potential cause could be that VLC is can only handle specific image file formats for the playlist. So far I tried only *.ico and *.png.

How can I declare images for the playlist entries?