Long-term protection of multimedia contents is a complex task, especially when the video has critical elements. It demands sophisticated technology to ensure confidentiality. In this paper, we propose a blended approach which uses proactive visual cryptography scheme along with video summarization techniques to circumvent the aforementioned issues. Proactive visual cryptography is used to protect digital data by updating periodically or renewing the shares, which are stored in different servers. And, video summarization schemes are useful in various scenarios where memory is a major concern. We use a domain independent scheme for summarizing videos and is applicable to both edited and unedited videos. In our scheme, the visual continuity of the raw video is preserved even after summarization. The original video can be reconstructed through the shares using auxiliary data, which was generated during video summarization phase. The mathematical studies and experimental results demonstrate the applicability of our proposed method.