OK. SRT subtitles have no way to add a command to resize subs, it's up to the device to set the size. Every other program displays them the same, it was apple that changed. No matter what resizing you try to do with the subtitle program. I tried everything, atv just started showing them much smaller. They were larger with this aspect ratio before the last update, I have a bunch of movies and all with soft encoded spanish subtitles. I figured there might be a reason. There is.
niklask, funny you should mention the beta. I was reading where the beta had these settings but it only works with Itunes downloaded media. I had to see for myself.
I installed the beta as subtitles are a MUST with the wife and kids and the way they changed do not cut it. I would not have installed it if not for that.
I went into the settings and there is a custom setting where you can size them however you want and there is a quick default and a larger setting. The fonts before this update were in between these two. They made the default size smaller and the larger is larger than what they were. In fact the larger setting is perfect and you can have a background at whatever % transparency you want. I have no idea why they made the default smaller before 5.4.
So yell at me if you want about me installing the beta (I know some will), but if I had not I would be dumping it for a roku as subtitles are a must and apple threw a curve on the subtitles early. I WILL be staying with Apple TV now.
Oh, the settings work with my mp4's with srt subtitles so it's not just itunes downloaded stuff.