A method of fusing viewer-specific graphic content into a video content being broadcasted to a plurality of viewer terminals, the method comprising: receiving, by a video processing server, a video content comprising a plurality of frames captured by one or more cameras, wherein each of the plurality of frames represents a scene comprising background surface and objects of interest; determining, by the video processing server, physical parameters of each of the one or more cameras using at least one of: sensors located on the camera, computer vision methods and/or by panoramic capturing of the scene using plurality of cameras; deriving, by the video processing server, for each frame of a subset of frames of the plurality of frames, a virtual camera model that correlates each pixel of the respective frame with a real-world geographic location in the scene associated with the pixel thereof, the virtual camera model being based on the physical parameters of the camera that generated the frame for which the respective virtual cameramodel has been derived; generating, by the video processing server, a background image, based on at least some of the plurality of frames of video content including pixels relating to the background surface of the scene, and subtracting, by the video processing server, the background image from each frame of the subset of frames of the video content to yield a corresponding subset of foreground masks, each foreground mask comprising pixels relating to the objects of interest; broadcasting, by the video processing server, the video content to at least some of the plurality of viewer terminals, wherein each frame of the subset of frames is accompanied with metadata that includes the respective frame's virtual camera model and foreground mask; and substituting, by said at least some of the plurality of viewer terminals, in at least part of the frames of the subset of frames of the video content, all pixels in the respective frames contained within at least one predefined content insertion region of the background surface, except for the pixels indicated by the respective frames' foreground masks, with pixels of viewer-specific graphic contents associated with the viewer terminals thereof, using the respective frames' virtual camera models. receiving, by a video processing server, a video content comprising a plurality of frames captured by one or more cameras, wherein each of the plurality of frames represents a scene comprising background surface and objects of interest; determining, by the video processing server, physical parameters of each of the one or more cameras using at least one of: sensors located on the camera, computer vision methods and/or by panoramic capturing of the scene using plurality of cameras; deriving, by the video processing server, for each frame of a subset of frames of the plurality of frames, a virtual camera model that correlates each pixel of the respective frame with a real-world geographic location in the scene associated with the pixel thereof, the virtual camera model being based on the physical parameters of the camera that generated the frame for which the respective virtual cameramodel has been derived; generating, by the video processing server, a background image, based on at least some of the plurality of frames of video content including pixels relating to the background surface of the scene, and subtracting, by the video processing server, the background image from each frame of the subset of frames of the video content to yield a corresponding subset of foreground masks, each foreground mask comprising pixels relating to the objects of interest; broadcasting, by the video processing server, the video content to at least some of the plurality of viewer terminals, wherein each frame of the subset of frames is accompanied with metadata that includes the respective frame's virtual camera model and foreground mask; and substituting, by said at least some of the plurality of viewer terminals, in at least part of the frames of the subset of frames of the video content, all pixels in the respective frames contained within at least one predefined content insertion region of the background surface, except for the pixels indicated by the respective frames' foreground masks, with pixels of viewer-specific graphic contents associated with the viewer terminals thereof, using the respective frames' virtual camera models.