A system is provided for dynamic scheduling and channel creation based on external data. Audience-based parameters comprising demographics data, targeted audience data, device type data, and trending information that includes media items based on current trend in social network platform are received from external data source. A media item to be inserted in first media feed of first channel is determined based on a plurality of pre-encoded media content, metadata, audience-based parameters and defined parameters. The plurality of pre-encoded media content is segmented into a plurality of media segments, each corresponding to different quality level and content encryption mode. A second channel is generated from first channel based on audience-based parameters, insertion of media item, and second programming schedule. The second programming schedule is generated from modification of first programming schedule based on audience-based parameters. The media item is delivered, in viewable format, in second media feed to consumer device.