A method of streaming a media program and an advertisement for presentation therewith, comprising the steps of: generating a plurality of media program versions (602, 604, 606) of the media program for a plurality of presentation throughputs, each of the plurality of media program versions generated for a different presentation throughput than the other of the plurality of media program versions; segmenting each of the media program versions (602, 604, 606) into a plurality of media program version segments to produce a plurality of media program version segments (602-1... 602-N, 604-1... 604-N, 606-1... 606-N) for each media program version; generating a plurality of advertisement versions (652, 654, 656) of the advertisement, each of the plurality of advertisement versions (652, 654, 656) associated with only one of the media program versions and generated for a respective presentation throughput of the associated media program version; segmenting each of the advertisement versions (652, 654, 656) into a plurality of advertisement version segments (652-1... 652-M, 654-1... 654-M, 656-1... 656-M) to produce a plurality of advertisement version segments for each advertisement version; receiving a media program request for the media program; transmitting a master playlist to the media program player, the master playlist comprising a plurality of media program version addresses generated for the plurality of presentation throughputs, each associated with only one of the plurality of media program versions; transmitting a segment playlist to the media program player, the segment playlist associated with a requested one of the media program versions generated for a presentation throughput in the plurality of throughputs and comprising a temporally ordered list having: a media program version segment address associated with each one of the plurality of media program version segments (602-1... 602-N, 604-1... 604-N, 606-1... 606-N) associated with the requested one of the media program versions and an advertisement version segment address associated with each one of the plurality of advertising segments wherein each one of the plurality of advertising segments is generated for the presentation throughput associated with the requested one of the media program versions. generating a plurality of media program versions (602, 604, 606) of the media program for a plurality of presentation throughputs, each of the plurality of media program versions generated for a different presentation throughput than the other of the plurality of media program versions; segmenting each of the media program versions (602, 604, 606) into a plurality of media program version segments to produce a plurality of media program version segments (602-1... 602-N, 604-1... 604-N, 606-1... 606-N) for each media program version; generating a plurality of advertisement versions (652, 654, 656) of the advertisement, each of the plurality of advertisement versions (652, 654, 656) associated with only one of the media program versions and generated for a respective presentation throughput of the associated media program version; segmenting each of the advertisement versions (652, 654, 656) into a plurality of advertisement version segments (652-1... 652-M, 654-1... 654-M, 656-1... 656-M) to produce a plurality of advertisement version segments for each advertisement version; receiving a media program request for the media program; transmitting a master playlist to the media program player, the master playlist comprising a plurality of media program version addresses generated for the plurality of presentation throughputs, each associated with only one of the plurality of media program versions; transmitting a segment playlist to the media program player, the segment playlist associated with a requested one of the media program versions generated for a presentation throughput in the plurality of throughputs and comprising a temporally ordered list having: a media program version segment address associated with each one of the plurality of media program version segments (602-1... 602-N, 604-1... 604-N, 606-1... 606-N) associated with the requested one of the media program versions and an advertisement version segment address associated with each one of the plurality of advertising segments wherein each one of the plurality of advertising segments is generated for the presentation throughput associated with the requested one of the media program versions. a media program version segment address associated with each one of the plurality of media program version segments (602-1... 602-N, 604-1... 604-N, 606-1... 606-N) associated with the requested one of the media program versions and an advertisement version segment address associated with each one of the plurality of advertising segments wherein each one of the plurality of advertising segments is generated for the presentation throughput associated with the requested one of the media program versions.