An device and method for providing multiple adaptive bit rate (ABR) streams using a single transcoder is disclosed. The device receives a group of content segments for a media channel, and converts, using a transcoder, a first of the content segments from a source format to a first data format, a first time duration for converting the first content segment being less than a second time duration for receiving each group of segments. The converted segment is then sent to a client device. On receiving a request from the device for content segments in a second data format, the device performs an initialization of the transcoder to convert content segments from the source format to the second data format, the initialization being completed during a residual period of time, or “operational gap” produced by a difference between the first time duration and the second time duration.