diff --git a/tests/tracks/test_webvtt_merge.py b/tests/tracks/test_webvtt_merge.py
index 93ea61ce..915c88a5 100644
--- a/tests/tracks/test_webvtt_merge.py
+++ b/tests/tracks/test_webvtt_merge.py
@@ -10,7 +10,7 @@ survive, while duplicate headers collapse and boundary-duplicate cues dedupe.
 
 from __future__ import annotations
 
-from unshackle.core.utils.webvtt import merge_segmented_webvtt
+from unshackle.core.utils.webvtt import merge_segmented_webvtt, rebase_webvtt, timestamp_ms
 
 # Two segments, each a full WebVTT document with its own X-TIMESTAMP-MAP header,
 # as they arrive concatenated from a DASH/HLS subtitle stream. The first cue carries
@@ -118,3 +118,16 @@ def test_merge_skips_malformed_timing_line():
     out = merge_segmented_webvtt(vtt)
     assert "Good" in out
     assert "Broken" not in out
+
+
+def test_rebase_moves_live_clock_cues_to_zero():
+    vtt = "WEBVTT\n\n498024:05:44.300 --> 498024:05:44.829 line:0.01%\nText\n"
+    out = rebase_webvtt(vtt, timestamp_ms("498024:00:14.700"))
+    assert "00:05:29.600 --> 00:05:30.129 line:0.01%\nText" in out
+
+
+def test_rebase_leaves_presentation_time_cues_alone():
+    # a second pass, or a VOD period with a non-zero offset, must not shift again
+    vtt = "WEBVTT\n\n00:05:29.600 --> 00:05:30.129\nText\n"
+    assert rebase_webvtt(vtt, 1_792_886_414_700) == vtt
+    assert rebase_webvtt(vtt, 0) == vtt
diff --git a/unshackle/core/tracks/subtitle.py b/unshackle/core/tracks/subtitle.py
index 3d6858f4..b362e7c9 100644
--- a/unshackle/core/tracks/subtitle.py
+++ b/unshackle/core/tracks/subtitle.py
@@ -27,7 +27,7 @@ from unshackle.core.config import config
 from unshackle.core.tracks.track import Track
 from unshackle.core.utilities import try_ensure_utf8, with_script
 from unshackle.core.utils.subprocess import log_tool_run
-from unshackle.core.utils.webvtt import merge_segmented_webvtt
+from unshackle.core.utils.webvtt import merge_segmented_webvtt, rebase_webvtt
 
 # silence srt library INFO logging
 logging.getLogger("srt").setLevel(logging.ERROR)
@@ -280,6 +280,14 @@ class Subtitle(Track):
             text = self.path.read_text("utf8")
             text = Subtitle.strip_webvtt_timestamp_map(text)
             if self.descriptor == Track.Descriptor.DASH:
+                from unshackle.core.manifests import DASH
+
+                template = DASH.merge_segment_templates(
+                    self.data["dash"]["adaptation_set"], self.data["dash"]["representation"]
+                )
+                if template is not None:
+                    offset = template.get("presentationTimeOffset", "0")
+                    text = rebase_webvtt(text, int(offset) * 1000 // int(template.get("timescale", "1")))
                 if len(self.data["dash"]["segment_durations"]) > 1:
                     text = merge_segmented_webvtt(
                         text,
diff --git a/unshackle/core/utils/webvtt.py b/unshackle/core/utils/webvtt.py
index 8a302ea0..d7d060e3 100644
--- a/unshackle/core/utils/webvtt.py
+++ b/unshackle/core/utils/webvtt.py
@@ -1,8 +1,10 @@
 import re
 from typing import Optional
 
+TIMESTAMP = r"(?:\d+:)?\d{2}:\d{2}\.\d{3}"
 # Timing line: optional hours, verbatim settings tail.
-TIMING = re.compile(r"^((?:\d+:)?\d{2}:\d{2}\.\d{3})[ \t]+-->[ \t]+((?:\d+:)?\d{2}:\d{2}\.\d{3})(.*)$")
+TIMING = re.compile(rf"^({TIMESTAMP})[ \t]+-->[ \t]+({TIMESTAMP})(.*)$")
+CUE_TIMES = re.compile(rf"(?m)^([ \t]*)({TIMESTAMP})([ \t]+-->[ \t]+)({TIMESTAMP})")
 
 
 def timestamp_ms(ts: str) -> int:
@@ -75,3 +77,20 @@ def merge_segmented_webvtt(vtt_raw: str, segment_durations: Optional[list[int]]
 
     blocks = headers + [f"{c[0]} --> {c[1]}{c[2]}\n{c[3]}" for c in cues]
     return "WEBVTT\n\n" + "\n\n".join(blocks) + "\n"
+
+
+def rebase_webvtt(text: str, offset_ms: int) -> str:
+    """
+    Subtract offset_ms from every cue time when the cues sit on the media timeline of a DASH
+    period whose presentationTimeOffset is offset_ms, as a live replay's do. Cues that start
+    below the offset are already presentation times, so the text stays as it is.
+    """
+    first = CUE_TIMES.search(text)
+    if offset_ms <= 0 or not first or timestamp_ms(first[2]) < offset_ms:
+        return text
+
+    def shift(ts: str) -> str:
+        ms = max(timestamp_ms(ts) - offset_ms, 0)
+        return f"{ms // 3_600_000:02}:{ms // 60_000 % 60:02}:{ms // 1000 % 60:02}.{ms % 1000:03}"
+
+    return CUE_TIMES.sub(lambda m: f"{m[1]}{shift(m[2])}{m[3]}{shift(m[4])}", text)