There’s more to making subtitles for a PowerPoint (or any) video. Converters from .srt subtitles, using Microsoft Transcribe or using online tools to make your own subtitles from scratch.
Webvtt vs Srt files
Webvtt files (used by PowerPoint) are similar to the standard .srt subtitle files (used by Windows Movies & TV and VLC). Both are plain text files.
Webvtt doesn’t have the sequence number (1 2 3 …) that SRT does.
Unlike the SRT format, webvtt files also allows for description and metadata info to be included within the frames itself (which aren’t displayed to the viewer). Also CSS styles and Cues for karaoke-like lyrics.
There are online tools to convert between SRT and WEBVTT formats, as well as online tools to create SRT and WEBVTT formats.
Microsoft Transcribe
A quick way to get the text from a recording is with Microsoft’s Transcribe feature.
Transcribe should give you reasonably accurate text that can be edited into subtitles text.
It can convert spoken words into a text file. It works with video files but there’s an upload limit of 200MB. Workaround that by making an audio only version of the original video/audio file.
How to create Closed Captions via online tool
Some online tools, such as Happy Scribe allow users to upload their videos and it will automatically create the .vtt file for them.
You can also Google other free online tools to use, but Happy Scribe seems pretty user-friendly, you just need to sign up to use it.
Simply select Subtitles at the beginning:

From there, you will need to upload your file or if you already have a link of your video, input the web address.
As we’re using a recording that we’ve made through PowerPoint we’ve simply right clicked on the video and chosen ‘Save Media As…’

This will save the file as an .mp4 that you can upload on Happy Scribe.
From there, upload your file and choose your language.

From there, you can submit. It can take a few minutes to upload. Next, once it’s completed you’ll need to open the file.

As you can see, the text isn’t always 100% accurate. You may need to click on the text and edit this to the correct words yourself.

Once you’re done, simply click the Download button on the top-right corner, select your Subtitles file from the drop-down box and then Download Subtitles.

From there, you can open your .vtt file to make sure it’s all finished and correct.

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Live subtitles and translation in PowerPoint – how it works