I for one have been looking for solutions such as this because my desktop computer takes about 2-3 hours to render videos. Instead, now I can just upload my videos straight to YouTube, then do a bit of editing there.
With this new editor, you can:
1)Combine multiple videos you’ve uploaded to create a new longer video
2)Trim the beginning and/or ending of your videos
3)Add soundtracks from our AudioSwap library of tens of thousands of songs
4)Create new videos without worrying about file formats and publish them to YouTube with one click—no upload necessary
source: google blog
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