A system is provided for dynamic scheduling and channel creation based on external data. A media item to be inserted in a first media feed of a first channel is determined based on a plurality of pre-encoded media content, metadata, audience-based parameters received from external data source and defined parameters. The plurality of pre-encoded media content comprises live feed and 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 a second programming schedule. The second programming schedule is generated from modification of first programming schedule based on content recognition-based information that corresponds to the live feed of one of a plurality of channels. The media item is delivered, in viewable format, in second media feed of second channel to a consumer device.