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Recent growth in broadband access and proliferation of small personal devices that capture images and videos has led to explosive growth of multimedia content available everywhere - from personal disks to the Web. While digital media capture and upload has become nearly universal with newer device technology, there is still a need for better tools and technologies to search large collections of multimedia data and to find and deliver the right content to a user according to her current needs and preferences. A renewed focus on the subjective dimension in the multimedia lifecycle, from creation, distribution, to delivery and consumption, is required to address this need beyond what is feasible today. Integration of the subjective aspects of the media itself - its affective, perceptual, and physiological potential (both intended and achieved), together with those of the users themselves will allow for personalizing the content access, beyond today's facility. This integration, transforming the traditional multimedia information retrieval (MIR) indexes to more effectively answer specific user needs, will allow a richer degree of personalization predicated on user intention and mode of interaction, relationship to the producer, content of the media, and their history and lifestyle. In this paper, we identify the challenges in achieving this integration, current approaches to interpreting content creation processes, to user modelling and profiling, and to personalized content selection, and we detail future directions. The structure of the paper is as follows: In Section I, we introduce the problem and present some definitions. In Section II, we present a review of the aspects of personalized content and current approaches for the same. Section III discusses the problem of obtaining metadata that is required for personalized media creation and present eMediate as a case study of an integrated media capture environment. Section IV presents the MAGIC system as a case stud- - y of capturing effective descriptive data and putting users first in distributed learning delivery. The aspects of modelling the user are presented as a case study in using user's personality as a way to personalize summaries in Section V. Finally, Section VI concludes the paper with a discussion on the emerging challenges and the open problems.