In one example, the present disclosure describes a device, computer-readable medium, and method for transcoding digital media in an optimized manner based on media priority. For instance, in one example, a method includes obtaining a plurality of media content items awaiting transcoding before being distributed over a content distribution network, identifying a plurality of transcoding resources available to transcode the plurality of media items, and generating a schedule for transcoding the plurality of media content items using the plurality of transcoding resources, wherein the schedule prioritizes those media content items of the plurality of media content items that have the highest relative business value.