Recently youtube gives the pleasant utility for its users. The online editor.
The link http://www.youtube.com/editor gives the editor for your youtube account. As we can see a lis of bunch of uploaded videos from users and option for combining the clips. This is for the videos that are already uploaded into the youtube.
But the ads may appear in videos as it mentioned in the editor bottom
“Advertisements may be displayed on videos that contain soundtracks from the AudioSwap library”
Really good time saver for lot of youtube users who probably used to combine videos offline with other video editors.
Its still in testing phase http://www.youtube.com/testtube
The merged video can be saved into the users youtube directly which eliminates the reupload of merged / edited videos.