Remapping time inside Adobe Premiere is simple and yet, has seemed like black magic to me. I have always wanted to play around with time but when I do, I tend to have universe (timeline) shattering repercussions. Something about time that I cannot wrap my head around.
Well, I am happy to report I figured out the right way to do it and I can show you.
First thing you have to do is unlink your Audio/Video. Why? Because changing the time of the image will not change the speed of the audio. If you did you would change the pitch and things get messy.
Right click on the clip with both the Audio and Video selected then select Unlink. You are now separated....
not divorced. Bad joke.
Next you right click and select Show Clip Keyframes down at the bottom. Hold over the arrow and a submenu will show. Eventually select Time Remapping> Speed.
Command (CMD) Click the left mouse button while the cursor is over the "rubber band." You will then have placed a keyframe. Make sure to place this keyframe in the spot you want to time ramp to happen.
If you want time to return to normal at a point, add another keyframe where the footage begins to return to normal speed.
Each keyframe looks like a shield split in half. Drag one side to the left and one to the right. This is showing the point where time will begin to speed up from normal and where it will level off at the new speed.
Now take the rubber band and lift up or down. Up is to increase the speed percentage. Down is to slow down. Has you adjust the first keyframe, the clips duration changes. This is why it is important to place your markers before hand.
Play back your results and adjust the rubber band to taste. Once you get the hang of this, you really can start having fun playing with speeding up and down in a clip.
If you need further help you can contact me and we'll see how we can work together!