I’m building the same thing right now with Subjam TV! Just this morning I got the “Draw Text” filter in ffmpeg working (see Jordan: "Learning how to use the "Draw Text" filter on ffm…" - DEF CON Social heh). Very crazy I run into this post now.
I use liquidsoap for the beta 24x7 Subjam radio. I’ve used it for various projects for many years, but basically set it up once and it just runs. Doing it with video and streaming to Owncast is exactly what I’m looking for.
I’ll be looking more deeply into this in the upcoming weeks, thanks for posting your findings and the scripts. I’ll keep this post updated with what I come up with too! Also, eventually I’d love to federate Subjam (however that may look) so maybe some syndication is in order for that 