What is FREEMIUM?

A consumer gets basic services for free and premium services are paid for. One example is cable services. Basic is typically free, but the consumer pays for all premium channels. Or, a premium channel may be free for a limited time, but some specific shows may be pay-for-view. Another example is buyers or renters of computer services. Basic services and functionality is free, but one must pay for specific advanced services or capabilities.

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Written and fact checked by The Law Dictionary