Any Asset uploaded with the same file name will default to copy and replace rather than have a different version of the same file. This will automatically update any instances where the old file is deployed in a Playlist or Layout.
1) Go to the Assets Library and use the ‘Upload Media‘ tab to upload your new file. The file name must be the same as the file name of the asset you are replacing.
2) Once the upload is complete, you will need to perform a Force Update on all players using the asset to download the new asset.