First install the requirements for Red5:
Next download and untar Red5:
tar xvfz red5-1.0.0.tar.gz
Rename the folder:
mv red5-1.0.0 red5
And then run Red5:
After scrolling through a lot of verbose information about the startup of Red5, you'll know it's running when you see the line that ends with Installer service created.
If you're browsing from the computer that it's installed on, you can see if the Red5 server is running by going to http://localhost:5080 .