Instagram’s currently testing out a new ‘Closed Captions’ sticker for IG Stories, which generates automated captions for your Stories clips in a range of text formats.
NEW! @Instagram has added a ‘Captions’ sticker for Stories
— Matt Navarra (@MattNavarra) March 9, 2021
You can now auto-caption videos in stories with a range of different styles… pic.twitter.com/cijk7nWGC3
As you can see in this example clip, in its current form, once you add the Captions sticker to your video clip, you would then see a ‘Transcribing audio…’ prompt on your screen. You’d then be able to view the text from your video, which displays in time with your speech.
Instagram appears to be testing four text style options, including typewriter-esque block text, larger words for added emphasis and basic block letters.