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Does Google Analytics Premium Require a New Property?

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I'm working on an analytics account that doesn't appear to have any past data, even though the site is quite old. The owner says it's because "google recently called them and sold them Google Analytics premium" which required a new property ID to be set up. The old data is still available under a different property ID.

 

does google cold call companies to sell premium? And would moving to premium require a new property ID?