This is useful because the new video will keep the same id. That id is used both in the links to share it and also in the embed code used to display it on your own site. Therefore you won’t have to update those links - they will automatically update.
Within the video CMS, simply click on the video you would like to replace. Click on the ‘replace’ button and you will be asked to upload the new version of it.
Once it finishes uploading, simply click ‘proceed’ and the new copy of the video will be sent for encoding. When it is ready, the link to the old version will automatically show the new version.
Note: To avoid any inconsistency, the old copy of the video will be made unavailable while its new version is replacing it.
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Updated: December 15, 2015