The Conditional Access System is the complete system for ensuring that broadcasting services are only accessible to those who are entitled to receive them. Four major parts to this system are scrambling, descrambling, authentication and encryption. For the proper operation, which means hard-to- break and uninterrupted service, secure key management and efficient delivery mechanism are very important design factors to this system. Performance analysis is another important factor to this system that is used in massive subscriber environment. In this thesis, one of the secure and efficient key management mechanisms is proposed. For the secrecy of this mechanism, hierarchical stacking of keys and key generation matrix are proposed. For the proof of efficient delivery of those keys, simulation results and performance analysis. which is based on queuing analysis, are presented. Lastly, optimal key generation and delivery period, maximal and minimal key deliver time, and communication capacity for data collection are presented for various subscriber volume.