Systems and methods for identifying key moments, such as key moments within a livestream, are described. Embodiments of the present disclosure obtain video data and text data. In some cases, the text data is aligned with a timeline of the video data. The system then computes a moment importance score for a time of the video data using a machine learning model based on the video data and the text data, and presents content to a user at the time of the video data based on the moment importance score.