@RodrigoTarrats: Thanks for the answer. I can understand that the transcript is not "attached" to the video (just as some metadata is not attached to documents - say a pdf - outside of SharePoint). This seems consistent with Microsoft's idea of a format agnostic environment. I am still wondering about the possibility of sensitivity labels for video (I have seen the possibility of DLP), but haven't yet seen that on the roadmap for Stream. I have put the idea in as a suggestion... :)
@Russ Herald - I moved your post to its own thread so we can have others chime in on their need for sensitivity labels. We are working on a plan for how we can add support for video files in ODB/SPO. But we'd love more info from you and others on why you need this, what types of content, and what parts of labels you are expecting to work for video files.
And for others here is the idea Russ added so you can add your comments/votes there too: