A method and system are provided in which a user is enabled to record, for example, a song or other radio and/or video content, on demand, and to account for and process appropriate payment for the use of the recorded content. The recorded material is saved and indexed by title and is retrievable for subsequent review, tabulation and/or playing at the user's convenience. In one example, a user is enabled to record received media content by pressing a single "ADD" button at any time while a favorite song is being received and played. The song then being played together with the title of the song or video presentation are then saved to memory for subsequent retrieval and playing. The received content is accounted for and tabulated and a payment for the use of the recorded song is processed by the user in accordance with a predetermined payment schedule.