A method and apparatus are provided for receiving a broadcast comprising a plurality of program channels and generating a playback stream using at least one of a buffered program channel and stored indexed content (e.g., commercials, programs, songs) for insertion. Control data controls which receivers insert which indexed content and when the indexed content is inserted into a received program channel, allowing for playback of songs from playlists, tiered subscription services, and sponsorship of broadcast program channels to provide market-directed content to selected receivers and listeners. Buffer management operations prevent uncontrolled buffer growth and commercial content avoidance through rapid channel changes.