A new feature popped up on Youtube yesterday when it inadvertently launched a licensing option for videos. Uploaders can now release their videos under a Creative Commons license.
A CC license gives creators the ability to grant permission to the end user to do certain things with the video (copy, distribute, edit, etc). The license itself isn’t a big deal. You’ve always had the legal option of releasing your videos under a CC license; I know several people and companies who have done so. The important detail here (and why you might want to change your videos over to CC licensed) is that users can now use the Youtube Video Editor to make new content out of CC licensed videos hosted on Youtube.
Of course, some people already were making videos from Youtube videos, but now it just got easier.