Today, Over-the-Top video streaming is gaining a lot of popularity. In this respect, the Virtual Content Delivery Network(CDN) is perceived as a key enabler to circumvent the technical challenges faced by Content Providers (CP) to deliver high-quality content over the Internet. In this paper, we investigate how the two main actors of the video delivery chain, i.e., the CDNoperator and the Internet Service Provider (ISP), can benefit from network and server virtualization to negotiate Dynamic ServiceLevel Agreements that reduce CDN CAPEX and OPEX, while generating more revenue for the ISP. First, we present a datasetused to simulate dynamic distributed traffic consumption. Second, we discuss the steps required to deploy and operate a virtualCDN deployed on an ISP’s network. Furthermore, we present evaluation results of the proposed solution, based on simple models.Lastly, we elaborate on operational parameters that are used to further optimize the solution.