A broadly-used term with multiple meanings.
(1) Most commonly, this means dealing with concerns of the
players and GM, as opposed to the characters in the gameworld.
Examples of metagame concerns could include spotlight time,
plot scripting, and who brought the munchies. i.e. External
to the diegesis.
(2) Within GNS theory, this is a Character Component
including all positioning and behavioral statements about the character,
as well as player rights to override the existing Effectiveness rules.
(3) Within Ron Edwards' layered model, all aspects of play that
concern non-Explorative matters or priorities -- i.e. Social
Contract and GNS mode (aka Creative Agenda).