If I sign this agreement, am I still part of Freedom!?

Yes, you are still part of Freedom!. The terms you will sign confirm that.
 

If I am currently partnered with Freedom!, why should I sign this agreement?

You will gain a direct relationship with YouTube and access to new features and revenue streams as they become available on YouTube. Freedom! worked closely with YouTube to make sure this opportunity drives more benefits/features over the long-term to Freedom! Partners, while still allowing you to enjoy the benefits of being part of Freedom!.
 

Will I get paid directly by YouTube now, or will I continue to be paid by Freedom!?

As a Freedom! Partner, you will continue to be paid through Freedom!. Details on when payments will be done can be found in this FAQ.
 

How does the cover song revenue sharing work?

If you cover a song in one of your videos, and YouTube has worked out an agreement with the owner of that song (composition), then when they claim your video, you are able to share in its monetization with them. This functionality is coming in the future.
 

What other revenue opportunities will the YouTube Partner Program provide access to in the future?

YouTube will be evaluating ways for you to monetize your videos even if they contain third-party music. Stay tuned for more information as we work to bring this functionality to YouTube Partner Program creators.