Aspects of a method and system for data exchange with a multimedia and Ethernet enabled LAN subsystem are provided. A multimedia networking interface may be enabled to process multimedia data and communicate the data between a networking interface and one or both of a graphics processor and an audio processor. In some instances, the networking interface may comprise a LAN interface and may enable communicating multimedia data over a network. The multimedia networking interface may be enabled to communicate auxiliary and/or control data associated with communicated multimedia content. The multimedia networking interface may process multimedia content prior to or subsequent to transmission of said content. In this regard, the multimedia networking interface may be enabled to parse, format, encapsulate, decapsulate, packetize, depacketize, and/or otherwise format the multimedia content.