A delivery and display system 10 prepares and delivers daily film rushes and/or film "cuts" (i.e., rough edits) in full motion video to users via the Internet in a collaborative application and display interface. The delivery and display system includes a system server 32, parsing and embedding software 34, an encryption system 36, and a collaborative display interface 70. The system server receives and stores digital media files 50 and AV log files 60. The parsing and embedding software 34 reads meta-data in an AV log file 60 and segments the digital media files 50, wherein the parsing and embedding software is capable of reading meta-data from both .FLX AV log files and .ALE AV log files. The parsing and embedding software 34 embeds meta-data from an AV log file 60 into the segmented digital media files 50. The encryption system 36 secures the digital media files 50, which have been embedded with meta-data from an AV log file 60, using digital rights management encryption. The collaborative display interface 70 displays downloaded or streaming digital media files 50 as media clips 52 and enables users to collaboratively interact with other users by notating comments that are linked to a specific digital media file 50 and by notating on actual media clip frames.