Captions in video are used to assist listeners with what is being said, or to aid the hearing impaired, to provide a translation in another language, or to add additional context or commentary about the subject at hand.
When making captions for videos, the biggest choice is whether the caption will become a part of the video itself, or whether the caption information will stay separate from the video information. There isn't a unified terminology in calling these two, but some call the first option the burned-in caption, while the second option is called the embedded caption.
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