A transcript presents the spoken content as a readable document. Captions display timed text alongside video. They may start from the same words, but their structure and review requirements differ.
You need searchable notes, an interview record, quotations, a written archive, or source material for an article. TXT is easy to edit and does not depend on a video timeline.
Viewers need synchronized text while watching a video. An SRT file includes a start and end time for each caption block. Captions require timing, readable breaks, and a preview against the final video—not merely accurate wording.
Some projects need both: a complete transcript for reference and captions for playback. Generate and review the text once, then apply separate formatting checks to each output.
See video to SRT, timestamps in transcripts, and TXT vs SRT.