Media Player Classic - Subtitles below picture

Media Player Classic internal subtitle renderer

The internal subtitle renderer of MPC works differently from the other subtitle filters. Instead of merging the subtitle image with the video before it gets send to the video renderer, it sends the subtitle image to the video renderer separately from the video. The video renderer is then responsible for merging it with the video. The disadvantage of this method is that it only works with certain video renderers. The advantage is that the subtitles can be placed anywhere on the visible screen. There is no need to enlarge the video frame.

Subtitle placement options can be found here:

MPC Options -> Subtitles -> Default Style -> "Screen Alignment & margins"

MPC Options -> Subtitles -> "Override placement" (don't use this one)