Get ready for the dawn of a new day in the world of Internet advertising. The idea of "freemium" content has arrived, according to The New York Times.

Newspapers had to find out the hard way that the conventional wisdom about offering free online content that's supported by ads no longer works. The newspapers have been dropping like flies and driving media moguls into bankruptcy.

Internet ad revenue does not equate eyeball for eyeball with traditional revenue streams.

Freemium content (free + premium) simply means that you'll get a small amount of basic content for nada. But you'll have to pay extra for exclusive content or services.

Even Pandora has now gone to a paid version that's fancier, in addition to its original free incarnation.