Hiho
Consider the speed of three things: firstly the belt on the drive side of the motor pulley, this being the section which is pulling on the platter; secondly the belt on the non-drive side of the pulley, this being the section where the belt is feeding off the pulley onto the platter; and thirdly the surface speed of the pulley itself.
Belt slip is where the speed of both parts of the belt is slower than the surface speed of the pulley.
Belt creep is where the belt speed on the non-drive side of the pulley is slower than the drive side, so the belt creeps over the pulley to make up the speed difference. This is because the belt is stretched by the torque it is transmitting and that amount of stretch must relax over the pulley. If the belt were equally stretched on both sides there would be no tension difference and thus no torque transmitted.
Mark Kelly