There is provided a system and method for multiple rights based video. Source video assets may be analyzed to identify segments associated with a restricted scope of rights, and replacement assets associated with rights of different restrictions may be provided. When a request is received to serve a particular source video asset, a correspondingly customized video asset may be constructed by analyzing the rights available to the target of the request and the associated rights of the available replacement assets. Multiple parameters may be utilized in such analysis, and may include criteria such as territorial region, audience age, paid subscription level, and intended distribution channel. Since video can be optimized for different targets largely automatically, wider distribution of content may be possible under stricter budget and schedule constraints. Potential benefits may include increased revenue streams, market penetration, and brand recognition.