11. A system for managing storage space of media assets stored on a storage device, the system comprising: a user input device configured to receive a selection; a storage device configured to store at least one media asset; and control circuitry, coupled to the user input device and the storage device, configured to: store a media asset on the storage device; access the stored media asset from the storage device; detect a first segment within the stored media asset; receive a selection of an editing tool; generate an edited first segment based on the selected editing tool and the first segment, wherein the edited first segment is a transformation of the first segment; compare an amount of storage space available in the storage device to a storage space requirement, wherein a result of the comparing is based on storage space of the storage device occupied by the stored media asset when the comparing occurs; and store the edited first segment to replace the first segment within the stored media asset on the storage device in response to determining, based on the result, that the amount of storage space does not satisfy the storage space requirement by deleting the first segment from the storage device and storing the edited first segment on the storage device.
17. The system of claim 11 , wherein the transformation comprises replacing a first portion of the first segment with a second portion, wherein the second portion requires a smaller amount of storage space than the first portion.