Adobe Dynamic Media is an ADD-ONs to Adobe Experience Manager ASSETS.
yes, This feature is available based on your AEM Packaging contract, It is paid feature (based on your AEM Packaging)
Dynamic Media. Dynamic Media may only be added to an AEM Deployment where an AEM Sites Managed Services Base Package or an AEM Assets Managed Services Base Package has been licensed. Dynamic Media is provided with 1 terabyte of aggregate on-demand storage. Access to some of the features and functionality included in Dynamic Media may be provided through alternate interfaces, which may be branded as Adobe Scene7 or Dynamic Media Classic. Adobe may, at its sole discretion, update the branding of the alternate interfaces and consolidate such features and functionality into a single access interface. When Dynamic Media is licensed as an add-on to AEM Sites Managed Services, Customer may access and use AEM Assets Managed Services within the AEM Sites Managed Services environment only for Customer Content to be delivered by Dynamic Media.