diff --git src/wp-includes/js/mce-view.js src/wp-includes/js/mce-view.js
index afd60fa..4be697e 100644
--- src/wp-includes/js/mce-view.js
+++ src/wp-includes/js/mce-view.js
@@ -550,69 +550,18 @@ window.wp = window.wp || {};
 			this.data = {};
 			this.attachments = [];
 			this.shortcode = options.shortcode;
-			_.bindAll( this, 'setPlayer' );
-			$(this).on('ready', this.setNode);
-		},
-
-		/**
-		 * Set the element context for the view, and then fetch the playlist's
-		 *   associated attachments.
-		 *
-		 * @param {Event} e
-		 * @param {HTMLElement} node
-		 */
-		setNode: function(e, node) {
-			this.node = node;
 			this.fetch();
 		},
 
+
 		/**
 		 * Asynchronously fetch the shortcode's attachments
 		 */
 		fetch: function() {
 			this.attachments = wp.media.playlist.attachments( this.shortcode );
-			this.attachments.more().done( this.setPlayer );
+			this.dfd = this.attachments.more().done( _.bind( this.render, this ) );
 		},
 
-		/**
-		 * Get the HTML for the view (which also set's the data), replace the
-		 *   current HTML, and then invoke the WPPlaylistView instance to render
-		 *   the playlist in the editor
-		 *
-		 * @global WPPlaylistView
-		 * @global tinymce.editors
-		 */
-		setPlayer: function() {
-			var p,
-				html = this.getHtml(),
-				t = this.encodedText,
-				self = this;
-
-			this.unsetPlayer();
-
-			_.each( tinymce.editors, function( editor ) {
-				var doc;
-				if ( editor.plugins.wpview ) {
-					doc = editor.getDoc();
-					$( doc ).find( '[data-wpview-text="' + t + '"]' ).each(function(i, elem) {
-						var node = $( elem );
-						node.html( html );
-						self.node = elem;
-					});
-				}
-			}, this );
-
-			if ( ! this.data.tracks ) {
-				return;
-			}
-
-			p = new WPPlaylistView({
-				el: $( self.node ).find( '.wp-playlist' ).get(0),
-				metadata: this.data
-			});
-
-			this.player = p._player;
-		},
 
 		/**
 		 * Set the data that will be used to compile the Underscore template,
@@ -695,6 +644,40 @@ window.wp = window.wp || {};
 			this.data = options;
 
 			return this.template( options );
+		},
+
+		render: function() {
+			var html = this.getHtml();
+			// Search all tinymce editor instances and update the placeholders
+			_.each( tinymce.editors, function( editor ) {
+				var doc,
+					self = this;
+				if ( editor.plugins.wpview ) {
+					doc = editor.getDoc();
+
+					self.unsetPlayer();
+
+					$( doc ).find( '[data-wpview-text="' + this.encodedText + '"]' ).each(function (i, elem) {
+						var node = $( elem ),
+							player;
+
+						// The <ins> is used to mark the end of the wrapper div. Needed when comparing
+						// the content as string for preventing extra undo levels.
+						node.html( html ).append( '<ins data-wpview-end="1"></ins>' );
+
+						if ( ! self.data.tracks ) {
+							return;
+						}
+
+						player = new WPPlaylistView({
+							el: $( elem ).find( '.wp-playlist' ).get(0),
+							metadata: self.data
+						});
+
+						self.player = player._player;
+					});
+				}
+			}, this );
 		}
 	});
 	_.extend( wp.mce.media.PlaylistView.prototype, wp.media.mixin );