I just downloaded the opensource video player Video.js and opend up the demo in Chrome and IE and with both the subtitles won't play.
Source files: http://www.videojs.com/
I haven't changed anything and this is the error i get while reading the console in Chrome:
Text track from origin 'file://' has been blocked from loading: Not at same origin as the document, and parent of track element does not have a 'crossorigin' attribute. Origin 'null' is therefore not allowed access.