Yes, now we can add our own subtitles and captions to YouTube videos.  This new feature by YouTube lets users add subtitles for foreign languages, and add captions for pointing out important facts.

Steps to Add Subtitles and Captions to Your YouTube Videos

Once you have the files, log into your YouTube account to upload them:

1. Click the “My Account” link in the upper right corner of every page.
2. Click on “My Videos”. You will go to a page showing your uploaded videos.
3. Find the video to add captions/subtitles to, then click the Video name or thumbnail image.
4. Scroll down to the “Captions and Subtitles” section (bottom left).
5. Upload your captions/subtitles file!

This information was as provided by YouTube support. The new subtitles and captions feature should open up some new doors, especially for blogs in languages outside english.