YouTube has just released a web application that will allow users to add captions to YouTube videos, the new offering called CaptionTube is powered by  Google App Engine.

CaptionTube allows users to add captions to any YouTube video by providing the video URL of the video or importing their personal videos from YouTube.

With CaptionTube you can select how long a caption should be visible by providing a start and end time, once you have created the captions you can export them as a file and edit them with a text editor.

With CaptionTube, YouTube is trying to make video editing online much more easier, just use your webcam to record a video, upload it online and edit and add captions to them, you won’t need a desktop video recording tool, if this feature is enhanced and improved upon.

CaptionTube [via CNet]