From SmashWiki, the Super Smash Bros. wiki
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Downloadable content, usually abbreviated as DLC, is additional content available to download after the initial release of a game. In the Super Smash Bros. series, DLC comes in the form of new characters, stages, music, Mii Fighter costumes, music, modes, and other extra content, both in purchasable and free forms.
Downloadable content is available in two of the Super Smash Bros. games: