System and method for watermarking of media segments using sample variants for normalized encryption (SVNE)

A system and method for distributing watermarked media content assets wherein a main track of a media content asset is provided with a first watermarking payload and at least one variant track is provided with a second watermarking payload. A plurality of composite segments of the media content asset are generated for distribution, wherein each composite segment includes a portion of the main track and corresponding portion of at least one variant track. The composite segments may be uploaded to a delivery node operative to deliver segments responsive to a unique watermarking signature provided by a client controller operating in conjunction with a watermarking session manager.