From the Art menu, click the Text icon and create a text thumbnail. On the text thumbnail the background is shown black. However, when the thumbnail is put into a timeline, the background will become translucent and only the text will appear. Click the text thumbnail to enter editing mode. Type text into “Enter text”.

Font
Change the font, size, color, shadow, and more. Open the settings tray to change settings for your text thumbnail.

Related items
Making a text frame
Combine text and thumbnails on the timeline