A digital asset management system effectively provides full control of compound media assets and their specific components. The digital asset management data model supports the creation and management of multiple levels of granularity or metadata enrichment, and different sets of file types or renditions used throughout the digital asset processing life-cycle. The extensible digital asset management data model allows telecommunications service providers to augment or enrich compound media asset metadata, and thereby, optimize the relationship between media assets, and enhance storage and retrieval functionalities. The digital asset management system solves the technical problems arising from ingesting, storing, and managing rich media assets economically and efficiently.