You can now edit your YouTube videos directly from the site.
The feature is currently rolling out worldwide, with a new “Edit video” button added to your “My Videos” page. It’s no replacement for a full-fledged video editor, of course, but it’ll do in a pinch for quick chops, color correction, soundtrack adjustments and image stabilization.
Edited videos will be saved right back to their current locations and video IDs so you don’t lose any traffic they’ve already generated.