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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def create_video_transcript(video_id, language_code, file_format, content, provider=TranscriptProviderType.CUSTOM):
 """ Create a video transcript. Arguments: video_id(unicode):
 An Id identifying the Video data model object. language_code(unicode):
 A language code. file_format(unicode):
 Transcript file format. content(InMemoryUploadedFile):
 Transcript content. provider(unicode):
 Transcript provider (it will be 'custom' by default if not selected). """

    transcript_serializer = TranscriptSerializer(
        data=dict(provider=provider, language_code=language_code, file_format=file_format),
        context=dict(video_id=video_id),
    )
    if transcript_serializer.is_valid():
        transcript_serializer.save(content=content)
        return transcript_serializer.data
    else:
        raise ValCannotCreateError(transcript_serializer.errors)