A network node within a packet-switched network, comprising: a program input port coupled to receive a multicast television program; a commercial input port coupled to receive commercial programs; a television queue containing a stream of program packets forming said multicast television program; a commercial queue containing a stream of commercial packets forming a selected one of said commercial programs; a subscriber input port (122a, 122b, 122c) coupled to receive a subscribe message (140, 141) from one or more subscribers; a controller that operates to identify one or more subscribers to said multicast television program and to identify a targeted one of said commercial programs for each of said subscribers, wherein the controller determines from each said subscribe message (140, 141) a program source address identifying a program source of said multicast television program to which said subscribing one of said subscribers is subscribing and a commercial source address identifying a commercial source of one of said commercial programs to insert into said multicast television program, said controller further coupled to receive a program splice mark indicator within a multicast layer 2 or layer 3 protocol stack carrying said multicast television program, said program splice mark indicator identifying a program splice mark point (190, 192) between two of said program packets within said program queue; a commercial inserter operating to insert said respective targeted commercial program for each of said subscribers into said multicast television program to produce respective customized programs by selecting next ones of said program packets from said program queue for insertion into said one of said customized programs until said program splice mark point (190, 192) Is reached and selecting ones of said commercial packets from said commercial queue for insertion into said one of said customized programs after said program splice mark point (190, 192) is reached; and a subscriber output port (124a, 124b, 124c) coupled to transmit said customized programs towards said respective subscribers. a program input port coupled to receive a multicast television program; a commercial input port coupled to receive commercial programs; a television queue containing a stream of program packets forming said multicast television program; a commercial queue containing a stream of commercial packets forming a selected one of said commercial programs; a subscriber input port (122a, 122b, 122c) coupled to receive a subscribe message (140, 141) from one or more subscribers; a controller that operates to identify one or more subscribers to said multicast television program and to identify a targeted one of said commercial programs for each of said subscribers, wherein the controller determines from each said subscribe message (140, 141) a program source address identifying a program source of said multicast television program to which said subscribing one of said subscribers is subscribing and a commercial source address identifying a commercial source of one of said commercial programs to insert into said multicast television program, said controller further coupled to receive a program splice mark indicator within a multicast layer 2 or layer 3 protocol stack carrying said multicast television program, said program splice mark indicator identifying a program splice mark point (190, 192) between two of said program packets within said program queue; a commercial inserter operating to insert said respective targeted commercial program for each of said subscribers into said multicast television program to produce respective customized programs by selecting next ones of said program packets from said program queue for insertion into said one of said customized programs until said program splice mark point (190, 192) Is reached and selecting ones of said commercial packets from said commercial queue for insertion into said one of said customized programs after said program splice mark point (190, 192) is reached; and a subscriber output port (124a, 124b, 124c) coupled to transmit said customized programs towards said respective subscribers.