Update 7th October, 2020:
Some premium themes, such as GeneratePress (GP Premium), come as plugins that add extra functions to a free theme. If this video doesn't help with installing your new premium theme then try going to Plugins > Add New and install it as a plugin.
In this video I walk you through adding a premium theme to your WordPress website. A premium theme is one you've bought and/or is not available through wordpress.org
Free themes are added from the wordpress.org repository through your dashboard. I cover choosing and installing a free theme at Choose a New Theme
If your premium theme comes with instructions from the developers then please follow their instructions.
Every theme is different and there will be settings for you to tweak once your theme is active. You should be able to find instructions where you purchased your theme and some have videos to teach you how to use them.
I hope you enjoy making your website beautiful.
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