Disclosed herein is method and system for prioritizing content for content processing by Multichannel Video Programming Distributors (MVPD). The system upon receiving multimedia content, determines premium quality vector for multimedia content. Further, system segments multimedia content into one or more segments and determines a complexity vector and social media vector for each segment. The complexity vector is identified based on scene transitions and complexity of scene in the segment. The social media vector is identified based on trend, popularity and viral nature of segment. The system assigns weightage to each segment using a machine learning model based on complexity vector, social media vector and premium quality vector. Based on weightage, system prioritizes segments for content processing. In this manner, present disclosure prioritizes content which needs to be first processed to reduce overall content processing time.