Abhishek,
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The 239.0.0.0/8 range is entirely reserved for private, organization use. This means, the range from 239.0.0.0 - 239.255.255.255 can be used anyway you like–so long as the traffic stays within the bounds of a private address of a company. This means your video server could be configured to use any address between 239.0.0.1 and 239.255.255.254 if your goal to ensure you are using the “private” multicast range.
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For 224.0.1.0, I was just trying to make the point that when you originally said “224 range” that in order for your statement to be accurate, you need to make sure you are saying “224.0.0.0/24.” 224.0.1.0 was an example I gave of something that could be considered within the “224 range” but is NOT actually reserved for local segment multicast traffic. There is nothing special at all about 224.0.1.0