Just a few days ago, Avid announced that it is releasing a freemium version of Pro Tools. Pro Tools is a DAW (Digital Audio Workstation) used to mix, record, edit, and create music.
A free version of Pro Tools is big news, as the DAW is widely regarded as an industry standard. It will be called Pro Tools : First and is being positioned as an entry point to audio recording.
Considering that this product will be free, Pro Tools: First will most likely be simpler and sans the bells and whistles of its older brother or even the paid version of other DAWs. But considering the standard Pro Tools will typically run you over $800, this is a huge deal. More and more software companies are allowing the masses to dip their feet in before diving in, and now the widely regarded Pro Tools will be one of them.
Head over to their product site if you want to sign up and take part when it releases: http://apps.avid.com/ProToolsFirst/