25. A computer system for managing video contents, comprising: a personal electronic device including a processor configured to process information; a storage subsystem configured to store information and computer program code; the computer system configured for: generating a custom taxonomy of topics personalized for a user, based on a viewing history of the user, the custom taxonomy of topics including at least one hierarchical level of subtopics from dynamic data sources, wherein generating the custom taxonomy of topics comprises: collecting a plurality of keywords related to a video topic, wherein the keywords are collected from a plurality of dynamic data sources; and utilizing a taxonomy builder for: identifying one or more video sub-topics of the video topic based on a ranking of the keywords collected for the video topic; and building a topic node in the custom taxonomy of topics, wherein the topic node includes a set comprising: a topic identifier for the video topic; a child topic identifier comprising a list of the video sub-topics identified; and a keyword section comprising the keywords collected for the video topic; and categorizing and ranking a plurality of videos by identifying keywords in video metadata associated with the plurality of videos, and using the hierarchical relationship in the customized taxonomy of topics to determine how closely the plurality of videos are related to the first video topic and the video sub-topics by comparing the keywords identified in the video metadata associated with the plurality of videos to the keyword section.
25. A computer system for managing video contents, comprising: a personal electronic device including a processor configured to process information; a storage subsystem configured to store information and computer program code; the computer system configured for: generating a custom taxonomy of topics personalized for a user, based on a viewing history of the user, the custom taxonomy of topics including at least one hierarchical level of subtopics from dynamic data sources, wherein generating the custom taxonomy of topics comprises: collecting a plurality of keywords related to a video topic, wherein the keywords are collected from a plurality of dynamic data sources; and utilizing a taxonomy builder for: identifying one or more video sub-topics of the video topic based on a ranking of the keywords collected for the video topic; and building a topic node in the custom taxonomy of topics, wherein the topic node includes a set comprising: a topic identifier for the video topic; a child topic identifier comprising a list of the video sub-topics identified; and a keyword section comprising the keywords collected for the video topic; and categorizing and ranking a plurality of videos by identifying keywords in video metadata associated with the plurality of videos, and using the hierarchical relationship in the customized taxonomy of topics to determine how closely the plurality of videos are related to the first video topic and the video sub-topics by comparing the keywords identified in the video metadata associated with the plurality of videos to the keyword section. 30. The computer system of claim 25 , wherein the keywords are assigned with the ranks by using one or more the following factors: (i) the number of times a keyword appears in each dynamic data source, (ii) the total number of times a keyword appears in the dynamic data sources, and (iii) the number of times a keyword appears in a user's personalized data source.