A method and system for streaming media objects. A streaming system includes a group of end nodes and at least one core node connected via an overlay network. The end nodes cache segments of media objects and stream the media objects to a client segment by segment. Each end node stores segment indices for locating segments cached on end nodes or a core node in the system. The core node is a dedicated proxy which fetches media objects from a remote media server and streams the media objects to a client when the media objects are unavailable from the end nodes.