In Premiere Pro's text panel, you can auto-transcribe any sequence with dialogue to create a text transcript. You can edit that transcript with text-based editing to see the changes reflected in your timeline! By deleting a word or phrase from the transcript, that moment will disappear from your sequence. This tool is most helpful to use when starting your project.
0:00 Auto-transcribe clips
0:22 Switch workspace
0:34 Create a rough cut
1:07 Edit the transcript
1:25 Create captions
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