I have tried with ffmpeg library and I can convert videos mp4 to hls with multiple quality but multiple audio is not working. > [Commands Excuting from Terminal]
And with subprocess library calling subprocess.call. > [ Want to know is this the right way? to do with Django? ]
Here is the solution https://github.com/aminyazdanpanah/python-ffmpeg-video-streaming
Read the documentation and modify as your requirement.