The Partnership Program is a revenue-sharing program allowing creators and producers of original content to earn money from their popular videos on YouTube. A partner can earn revenue from relevant advertisements that run against your video using Google’s proprietary technology. This programme was launched in India in September, 2011 and has seen pretty good response since.
After the video creator has been accepted by the programme, ads start appearing next to their videos. The revenue from those ads are then split with the partner who gets the maximum share.