The term "Initial Release" refers to the first version of a product, software, or media that is made available to the public. This release often includes the core features and functionalities that have been developed and tested. It marks the beginning of a product's lifecycle and is crucial for gathering user feedback. In the context of software development, an initial release may be referred to as a beta version or version 1.0. This stage allows developers to identify bugs and make improvements based on user experiences. Subsequent updates and releases typically follow to enhance the product further.