YouTube Creator they announced that effective immediately (in selected countries) that partnership status is now granted after you successfully monetize one video. This is an amazing thing for small channels, in the past you needed to have a certain size (around 1k subscriptions) before partnership was offered.
What this means to you:
Basically, lets say you recorded a super hilarious video of your cat doing something like this.
Well now you could immediately create a new Youtube account, monetize the video and link it to your ad-sense. If your video went viral or was popular you would immediately reap the rewards of it.
The Bad News:
Unfortunately, the main perks to being a Youtube Partner were that you could add a banner to your channel, and most importantly select the thumbnail you wanted from your video. The Thumbnail is one of the most immortant parts of a video sadly, people do judge a book by its cover and all the new Youtube partners will be stuck with the old system for now, so the partnership is really like being a Youtube Partner-Lite.
All and all this is an amazing step forward for small time Youtubers, such as myself.