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In this paper, we consider video transmission over spectrally shaped channels using multicarrier modulation (MCM). Here, the system is first composed of a two layer scalable video transcoding scheme, which adapts the total bit rate and splits the video bitstream into a base layer (BL) and an enhancement layer (EL). It is followed by a hierarchical bit and power loading algorithm to optimize the transmission over the MCM channel. For this whole system, we propose an original method to automatically determine both optimal BL and EL bit rates corresponding to the highest visual quality at the receiver side. Then we illustrate the proposed method in the case of video delivery over ADSL channels.