Are you sure the PNG includes an alpha channel?

what is an alpha channel

@Tyler-Broering You need to use a layered png that has the non-transparent content in an upper layer with the bottom background layer left empty. If the layers have been flattened, transparency is lost. If the png you want to use isn't made for transparency, you can edit it in Photoshop. Or try and bring it into Vegas as-is and use chroma key to disappear a backdrop color... but for consistent chroma key results suggest you do rendering at best resolution and viewing at best-full.

Following on from Howard-Vigorita's comment, the alpha channel (full opacity/transparency) will usually display on the png image as a grey and white chequerboard pattern like:

Ignoring the border, just the white panel and the word TEXT will display because the rest of the image has zero alpha content.

@Tyler-Broering @Marco. @Howard-Vigorita @Dexcon

Mediainfo tells you everything you need to know without opening Vegas.

@Tyler-Broering

"and I don't know how to fix it"

If it's not transparent, you fix it in Photoshop. Google "Background Layer" and / or "Transparency".

@Tyler-Broering @Marco. @Howard-Vigorita @Dexcon

Mediainfo tells you everything you need to know without opening Vegas.

As Ira said, "It Ain't Necessarily So." Looks like if it's not a 32-bit depth, it's not a transparent png. But if it is 32-bit depth, it might still not have any transparency. Here's the media info on a not-transparent png I just found online next to the transparent version I just created from it. Both 32-bit depth. Curiously the one I made transparent, by Photoshoping out all the white pixels outside the graphic, came out slightly larger than the original which has more pixels.

Here's what the original looks like over a magenta track... this would need a mask plus chroma key to get right in Vegas as-is because of all the white inside the graphic.

In this case editing the png is easier but did require tracing out the graphic, inverting the selection, color-selecting white, then hitting the delete key. Ends up looking like this...

Gotta say it's kind of odd that someone went to all the trouble of manipulating the layers to make the original without deleting any pixels... and posting it online as a transparent png. Maybe they're just messing with us.

@Howard-Vigorita

George and Ira were very insightful. It only goes one way.

In Photoshop, it's possible to have all layers capable of transparency (not an opaque Background layer), but with a fill color on an upper layer.

When saved as a .PNG, it will appear like this:

Muting the Red layer in Photoshop

and saving as a PNG will produce this result in Vegas:

Using .PSD files directly in Vegas allows one to maintain the layers and mute the tracks in Vegas as one sees fit.

" ...did require tracing out the graphic..."

That's what the Magic Wand tools is for. It's Magic. Play with the Tolerance setting.

Yes, you can save a .png as 8 bit x 4 channels without having any actual transparent content. Like having a spare tank on your pickup and not using it.

"I'm beginning to see the light,"

but

"I don't get around much anymore."

I'm editing a video for my YouTube and I'm trying to put a subscribe PNG and when I put the image over my gameplay and it doesn't become transparent, and I don't know how to fix it

People who sell/host the transparent images want you to go to their site, so they stupidly often have a public facing non transparent png pretending to be a transparent png which google images finds and hosts which leads to confusion. Other sites have the public facing transparent image as a .jpg to avoid confusion as you know it's not really transparent.

Click on the link from google to hosting site , could be free,paid, or free with signup.... or it could be a mirror of the fake transparent png and you still have to find the real one

Notice the OP has not responded?

@Musicvid

I notice that a lot, lately.

However, I think that there are very good answers that a future problem owner could really use.
So the creation was not an empty kilometer.

If the search functionality is used, which is not always the case .......