1. A method for managing storage space of media assets stored on a storage device, the method comprising: storing a media asset on a storage device; accessing the stored media asset from the storage device; detecting, using control circuitry, a first segment within the stored media asset; receiving, using the control circuitry, a selection of an editing tool; generating, using the control circuitry, 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; comparing, using the control circuitry, 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 in response to determining, based on the result, that the amount of storage space does not satisfy the storage space requirement, storing the edited first segment to replace the first segment within the stored media asset on the storage device by deleting the first segment from the storage device and storing the edited first segment on the storage device.
3. The method of claim 1 , wherein the transformation comprises removing a portion of the first segment.