You can delete videos from your library as a way of keeping things organized. The hours still count against your plan, they cannot be reused.
To delete video, go to your Video Library and select the specific video to continue to the Video Player page.
On the Video Player page, click the Details icon at the bottom (see below).
Now select the Delete this File option in the Additional Options area located near the bottom of the screen.
Confirm that you want to delete the file.
Once you confirm by hitting "Yes, Delete This File", the video will be removed from your team's video library.