This paper addresses a novel video summarization procedure that produces a dynamic (video) abstract of the original video sequence. To remain temporal characteristic in the video abstract, a newly time-oriented feature is introduced. The approach relies on time instances, frame rate of the original video sequence and display speed of the video summary to select frames for a video abstract. This method preserves the time-evolving dynamic nature of the video content. Based on a input video sequence, real-time video summarization can be achieved at different display speed.