The embodiments of this disclosure provide a video transcoding system and method, and related products. The system includes: a main transcoder circuitry configured to acquire an input video, transcode the input video to generate a transcoded video, and transmit the transcoded video to a receiving device; and a backup transcoder circuitry configured to acquire the input video, buffer the input video, acquire transcoding location information of the main transcoder circuitry at the time when the main transcoder circuitry is down, transcode the buffered input video according to the transcoding location information to generate an output video, and transmit the output video to the receiving device.