The disclosed system and method provide a facility for a dynamic media overlay. An end user can provide data for the dynamic media overlay that is activated upon selection to permit end users to share information while receiving or sending video data. The overlay may be in the form of a link, such as a hyperlink, that can be selected by an end user to take action indicated by information provided in the link. The link may be represented by audio or image information in the form of instructions or clickable “targets.” A content of information represented by the link can be dynamic, so that selection of the link can result in different actions, depending upon the informational content of the link. One or more flags may be provided to indicate that a new link or new informational content for a link is requested. The link may be provided in an overlay represented as a media layer provided in addition to the video media, or it may be embedded in the video media itself.