The following are steps used to get Red5 running on a Debian machine. This is the development version of Red5.

Before beginning this make sure you are running these commands as root.

Install Subversion:
apt-get install subversion
Install tools to build your own Debian packages:
apt-get install dpkg-dev debhelper dh-make devscripts fakeroot
Install Java (see this tutorial for more info):
apt-get install java-package
Install Apache Ant 1.7:
wget http://apache.mirror.transip.nl/ant/binaries/apache-ant-1.7.1-bin.tar.gz
tar zxvf apache-ant-1.7.1-bin.tar.gz
mv apache-ant-1.7.1 /usr/local/ant
export ANT_HOME=/usr/local/ant
Once Java and Ant are all set up you simply download the latest development version of Red5 to your box.
svn co http://red5.googlecode.com/svn/java/server/trunk red5-trunk
That will create a folder in your current directory called red5-trunk.

Navigate to the red5-trunk directory and run ant
cd red5-trunk
/usr/local/ant/bin/ant
That will build the project on your machine.

At this point you will need to create a red5 directory in the /usr/local/red5 directory.
mkdir /usr/local/red5
Then you will want to copy the contents of the dist(distribution) folder to /usr/local/red5 like so
cp -R red5-trunk/dist/* /usr/local/red5/
We need need to fix the permissions on the red5.sh file:
cd /usr/local/red5
chmod 755 red5.sh
To run the server you have a few options using the red5.sh file. Run the server by either running
sh red5.sh &
or

./red5.sh &
This will start the Red5 service manually.

Verify the correct ports are being bound to:
netstat -ant
You may need to edit the red5.properties file in the /usr/local/red5/conf directory if you can’t connect to your server from an external location. Try to connect to the server before you modify the properties file because you may be able to connect to it with no problems.

Refer : http://osflash.org/red5/debian