1. A method for time aligned identification of video content playing on an electronic client device, the method comprising: receiving by the electronic client device, a video stream for presentation by the electronic client device, the video stream containing a first video content followed by a second video content; generating by the electronic client device, a first set of signatures for the first video content; identifying by the electronic client device, the first video content based on an analysis of the first set of signatures compared to reference signatures stored in a database; detecting by the electronic client device, a scale ratio mapping between video frames of the identified first video content playing on the electronic client device and reference frames stored in the database by calculating a scale ratio along an x axis (Sx) and a difference scale ratio along a y axis (Sy) for a query signature in the first set of signatures and a reliable matching reference signature in the database, wherein the calculated scale ratios Sx and Sy indicate that the video frames of the identified first video content and the reference frames are not in alignment; responsive to calculating the scale ratios, using the detected scale ratio mapping to generate subsequent signatures for subsequent incoming video frames; and monitoring the subsequent incoming video frames for the second video content by the electronic client device to determine that the video stream has made a scene change from the first video content to the second video content.
6. The method of claim 1 , wherein identifying a time alignment comprises: sequence matching and correlation between reference and query fingerprints.