In HTTP Adaptive Streaming, video content is conventionally encoded by adapting its spatial resolution and quantization level to best match the prevailing network state and display characteristics. It is well known that the traditional solution, of using a fixed bitrate ladder, does not result in the highest quality of experience for the user. Hence, in this paper, we introduce a content-driven approach for estimating the bitrate ladder, based on spatio-temporal features extracted from the uncompressed content. The method implements a content-driven interpolation. It uses the extracted features to train a machine learning model to infer the curvature points of the Rate-VMAF curves in order to guide a set of initial encodings. We employ the VMAF quality metric as a means of perceptually conditioning the estimation. When compared to the generation of a reference ladder using exhaustive encoding, 76.63% the estimated ladder's Rate-VMAF points are identical to those of the reference ladder. The proposed method benefits from a significant (77.4%) reduction in the number of encodes required with only a small (1.04%) average Bj⊘ntegaard Delta Rate increase.