The Freemium Model is a business model in which companies offer both free and premium versions of their product or service to attract users, then gradually transition them over time into paying customers.
The free version, known as the “freemium,” typically offers basic features or limited access at no cost while premium offerings provide more advanced features or exclusive content that users can unlock via paid subscription or in-app purchase upgrades. Ultimately, the goal of the Freemium model is to attract as many users with its free offering before gradually turning them over into paying customers over time.
