How to create an animated slideshow on YouTube

Google has quietly added a new function to YouTube:  in the upload section it is now possible not only to to upload or record a video but also to start a hangout and to create an animated slideshow.

You can upload photos from your hard drive or import them from a picasa/Google+ album. Then you can rearrange the photos and choose which effects (transitions) you would like choose. You can also choose from 150,000+ royalty free songs. When done a pan and zoom animated slideshow  (aka Ken Burns effect) is created automatically.

Compared to similar services such as Animoto YouTube slideshows have a number of advantages as well as disadvantages:

YouTube15+ minutes1080p150,000+
a fewnone (only via subtitle file)
animoto (free)30 seconds360pa few dozens
variety of styles

Here is a pre-christmassy example: 

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