Youtube Partner question thingy?

Ok so the collab channel I am in on youtube is going to be a partner in 3 months? What does a youtube partner mean?
Answer:

Hi Yeah, you will be able to upload big files ,have the priority in video converssion, and the best encoding quality, you can put you web site Logo in your channel page, and you will earn from Ads showen in your videos from Google Adsense Program. http://www.google.com/adsense/ for more information :).

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Other answers

You would get paid based on views from youtube; they would start putting ads in all the videos you upload (usually ads similar to your particular subject) and I think based on views of your videos or clicks on those ads (either or) would add revenue to both you and the youtube company, hence, the term 'partner'. The program would also attract more viewers.

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