We are currently working on a chat + (file sharing +) video conference application using HTML5 websockets. To make our application more accessible we want to implement Adaptive
I've found some nice articles about how other people build a stream segmenter
for other platforms, so now we know how to build one in Python.
I think ffmpeg is the main tool you'll want to look at. It's become most well supported open source media manipulator. There is a python wrapper for it. Though it is also possible to access the command line through the subprocess module.