Yesterday, I got request from one of my online pals to dub the YouTube clip with English subtitles, translating the Russian language comments during the clip. Looking for the easiest solution, I found free Overstream services, which I would like to share with you.
Overstream allows you to "overstream" videos from popular video sites, simply adding supplementary subtitles, commentary, and captions to them.
Using the online Overstream Editor, you can easily create subtitles for any online video, store them on the Overstream server, and send the link of your subtitled video overstream to your friends.
Currently, Overstream supports the following video providers: YouTube, Google Video, MySpace Video, Veoh, Blip.tv, Archive.org, and Vimeo.com.
Overstream supports all languages. However, in order to work, the language must be installed on the viewer's computer. If you write your overstream in Japanese, only those viewers who have Japanese installed will be able to see it properly. Most languages come already installed with your operating system, but some need to be installed explicitly.