What is Freemium?
Freemium is a business model that offers a basic version of a product or service for free while charging for premium features or additional functionality. The term “freemium” combines the words “free” and “premium”.
The basic version of the product or service is typically sufficient for casual or occasional users, while the premium version is designed for more advanced or frequent users who require additional features or capabilities. The premium version may be offered as a subscription service, a one-time purchase, or as a series of in-app purchases.
The freemium model is often used in the software and mobile app industries, where the basic version of the product is offered as a way to attract a large user base and build brand awareness, while the premium version generates revenue from a smaller subset of users who are willing to pay for additional features or functionality.