Computerized systems and methods are provided for generating and providing augmented video content to viewers. In one implementation, a media player executed by a user device obtains playlist data identifying underlying video content and elements of overlay content. The media player may generate augmented video content by merging an element of the overlay content into the underlying video content at a temporal position within the underlying video content that is relevant to the overlay content element, and further, may present the augmented video content to a viewer. The media player may detect a triggering event during the presentation of the augmented video content, and may modify the augmented video content in response to the triggering event.