diff --git a/edxval/migrations/0002_add_error_description_field.py b/edxval/migrations/0002_add_error_description_field.py
new file mode 100644
index 00000000..97c250b4
--- /dev/null
+++ b/edxval/migrations/0002_add_error_description_field.py
@@ -0,0 +1,18 @@
+# Generated by Django 2.2.12 on 2020-04-29 05:09
+
+from django.db import migrations, models
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('edxval', '0001_squashed_0016_add_transcript_credentials_model'),
+    ]
+
+    operations = [
+        migrations.AddField(
+            model_name='video',
+            name='error_description',
+            field=models.TextField(blank=True, null=True, verbose_name='Error Description'),
+        ),
+    ]
diff --git a/edxval/models.py b/edxval/models.py
index 7e2e06bf..b2e2a826 100644
--- a/edxval/models.py
+++ b/edxval/models.py
@@ -123,6 +123,7 @@ class Video(models.Model):
     client_video_id = models.CharField(max_length=255, db_index=True, blank=True)
     duration = models.FloatField(validators=[MinValueValidator(0)])
     status = models.CharField(max_length=255, db_index=True)
+    error_description = models.TextField('Error Description', blank=True, null=True)
 
     def get_absolute_url(self):
         """
diff --git a/edxval/tests/test_views.py b/edxval/tests/test_views.py
index 8863d68c..aee48f7d 100644
--- a/edxval/tests/test_views.py
+++ b/edxval/tests/test_views.py
@@ -954,6 +954,11 @@ def setUp(self):
             'patch_data': {'edx_video_id': 'super-soaker', 'status': 'partial_failure'},
             'message': None,
             'status_code': status.HTTP_200_OK,
+        },
+        {
+            'patch_data': {'edx_video_id': 'super-soaker', 'status': 'transcript_failed'},
+            'message': None,
+            'status_code': status.HTTP_200_OK,
         }
     )
     @unpack
@@ -965,6 +970,32 @@ def test_video_status(self, patch_data, message, status_code):
         self.assertEqual(response.status_code, status_code)
         self.assertEqual(response.data.get('message'), message)
 
+    def test_error_description(self):
+        """
+        Test that if error description is present in request, it is updated for
+        the video instance.
+        """
+        request_data = {
+            'edx_video_id': 'super-soaker', 'status': 'pipeline_error', 'error_description': 'test-error-desc'
+        }
+        response = self.client.patch(self.url, request_data, format='json')
+
+        self.video.refresh_from_db()
+        self.assertEqual(response.status_code, status.HTTP_200_OK)
+        self.assertEqual(self.video.error_description, 'test-error-desc')
+
+    def test_no_error_description(self):
+        """
+        Test that error description is an optional parameter for status update request.
+        """
+        response = self.client.patch(
+            self.url, {'edx_video_id': 'super-soaker', 'status': 'pipeline_error'}, format='json'
+        )
+
+        self.video.refresh_from_db()
+        self.assertEqual(response.status_code, status.HTTP_200_OK)
+        self.assertIsNone(self.video.error_description)
+
 
 @ddt
 class HLSMissingVideoViewTest(APIAuthTestCase):
diff --git a/edxval/views.py b/edxval/views.py
index cb744356..d13b2021 100644
--- a/edxval/views.py
+++ b/edxval/views.py
@@ -38,6 +38,7 @@
     'partial_failure',
     'pipeline_error',
     'transcription_in_progress',
+    'transcript_failed',
     'transcript_ready',
     'transcode_active',
 ]
@@ -211,6 +212,7 @@ def patch(self, request):
         try:
             video = Video.objects.get(edx_video_id=edx_video_id)
             video.status = video_status
+            video.error_description = request.data.get('error_description')
             video.save()
             response_status = status.HTTP_200_OK
             response_payload = {}
diff --git a/setup.py b/setup.py
index 39e84842..d8d46af3 100644
--- a/setup.py
+++ b/setup.py
@@ -46,7 +46,7 @@ def load_requirements(*requirements_paths):
     return list(requirements)
 
 
-VERSION = '1.3.3'
+VERSION = '1.3.4'
 
 if sys.argv[-1] == 'tag':
     print("Tagging the version on github:")