1. Open any video on YouTube app.
  2. Swipe down on the video to popover. This plays video on the side while we can browse the YouTube for other videos.
  3. Now switch to another app on the iPhone. The popover will continue playing while we browse another app.
  4. Without popover, the video stops playing and will require YouTube Premium, I guess.

I am not sure if this is a premium feature or the way it works by default. Nonetheless, it's new to me.