This script should help you.
It is assumed that your red5 script is located at /usr/share/red5:
cd /etc/init.d/
touch red5
chmod 755 red5
vi red5
Paste below code
#! /bin/sh
# /etc/init.d/red5
#
# Check for missing file
RED5_DIR=/usr/share/red5
test -x $RED5_DIR/red5.sh || exit 5
case "$1" in
start)
echo -n "Starting Red5 Service"
echo -n " "
cd $RED5_DIR
su -s /bin/bash -c "$RED5_DIR/red5.sh &" red5
sleep 2
;;
stop)
echo -n "Shutting down red5"
echo -n " "
su -s /bin/bash -c "killall -q -u red5 java" red5
sleep 2
;;
restart)
## Stop the service and regardless of whether it was
## running or not, start it again.
$0 stop
$0 start
;;
esac
then you maybe need
useradd red5
and use like
service red5 start
service red5 stop
service red5 restart