On YouTube you can auto-generate a caption file, edit those captions to eliminate errors then download the timed caption file (.srt file) to use on other social media platforms like Facebook and Linkedin. The captions for this video were created by this method – generated and edited on YouTube then uploaded to Vimeo to create these closed captions.
The auto-generate caption tool on Facebook is a fast and cheap way to create captions to increase the chances your videos will be viewed on Facebook.