Data processing systems and methods are disclosed for augmenting video content with one or more augmentations to produce augmented video. Elements within video content may be identified by spatiotemporal indices and may have associated values. An advertiser can pay to have an augmentation added to an element that, for example, advertises the advertiser's goods and/or includes a link that, when activated, takes a user to the advertiser's web site. Elements may have associated contexts that can be used to determine augmentations and element value, such as a position and/or current use of the element.