A system, method and computer-readable medium are presented for providing real-time content-based navigation of live video programming. The method aspect of the invention comprises receiving a live video program, generating an index to the received live video program by extracting images and/or text from the video program, recording the live video program, presenting at least a portion of data associated with the generated index to a user, receiving user input regarding a portion of the recorded video program to which the user desires to navigate and playing back the recorded video program starting at the navigated portion identified by the user input.