A network based distribution system and method is disclosed for automatically exchanging playable media items, such as movies in a digital format. The automatic exchange system includes a number of components that interoperate to improve a subscriber's experience, including an intelligent queue monitor which works on his/her behalf to identify potential items of interest for the subscriber. The system can thus automatically exchange for desirable tides, including other titles from other subscribers, under a set of programmed directives from the user, and/or in response to supply/demand requirements of other subscribers.