Pipelined MPSoCs provide a high throughput implementation platform for multimedia applications, with reduced design time and improved flexibility. Typically a pipelined MPSoC is balanced at design-time using worst-case parameters. Where there is a widely varying workload, such designs consume exorbitant amount of power. In this paper, we propose a novel adaptive pipelined MPSoC architecture that adapts itself to varying workloads. Our architecture consists of Main Processors and Auxiliary Processors with a distributed run-time balancing approach, where each Main Processor, independent of other Main Processors, decides for itself the number of required Auxiliary Processors at run-time depending on its varying workload. The proposed run-time balancing approach is based on off-line statistical information along with workload prediction and run-time monitoring of current and previous workloads' execution times. We exploited the adaptability of our architecture through a case study on an H.264 video encoder supporting HD720p at 30 fps, where clock- and power-gating were used to deactivate idle Auxiliary Processors during low workload periods. The results show that an adaptive pipelined MPSoC provides energy savings of up to 34% and 40% for clock- and power-gating based deactivation of Auxiliary Processors respectively with a minimum throughput of 29 fps when compared to a design-time balanced pipelined MPSoC.