Speculation:
Subtitles are included so that you can watch TV without the benefit of sound. (TV muted in public places like a gym, airport, or train station, or a TV otherwise in a place with high background noise.)
Subtitles are included for shows with poor audio (game shows, news/weather broadcasts conducted in hurricane winds, etc.).
Subtitles are included for the deaf.
It goes like this: Cute woman talks about how she tried an electronic exercise belt to work out her chest. Says she felt a super surge of current going through her breasts. Host asks if she liked it. Guy sitting at the back changes subject and tells how cute woman always walks around with a button attached to a thread, which she likes to chew on. General surprise. Host hypothesises that she was a fish in a previous life. He asks her if she is attracted to people’s cuff buttons and stuff. She says there are good and bad buttons, but yes, sometimes she feels like chewing on other people’s buttons. The line is too good not to take and host asks about his pant button. Guests protest, somewhat. They further talk about her button fetish.
This segment is particularly low-brow (that’s probably why it’s on YouTube) but somewhat typical of variety shows. Incidently, the show is nominally about a team of real hot-shot lawyers (not shown in the clip) giving their opinions on various legal troubles. In actuality more than half of it is gossip like in the clip.