Cache management techniques are described for a content distribution network (CDN), for example, a video on demand (VOD) system supporting user requests and delivery of video content. A preferred cache size may be calculated for one or more cache devices in the CDN, for example, based on a maximum cache memory size, a bandwidth availability associated with the CDN, and a title dispersion calculation determined by the user requests within the CDN. After establishing the cache with a set of assets (e.g., video content), an asset replacement algorithm may be executed at one or more cache devices in the CDN. When a determination is made that a new asset should be added to a full cache, a multi-factor comparative analysis may be performed on the assets currently residing in the cache, comparing the popularity and size of assets and combinations of assets, along with other factors to determine which assets should be replaced in the cache device.