1. A method for generating subtitles for a multimedia presentation comprising: receiving, at a receiver device, a multimedia presentation from a distribution system; buffering, at the receiver device, the multimedia presentation on a storage medium; retrieving at least one portion of the multimedia presentation from the storage medium, the at least one portion comprising an audio component and a video component; performing speech recognition analysis, at the receiver device, on the audio component to generate text corresponding to the audio component of the at least one portion of the multimedia presentation; integrating the generated text into a subtitle text file associated with the multimedia presentation; and displaying the integrated multimedia presentation with the generated subtitle text file as subtitles to the presentation.