The Long Tail
Why the Future of Business is Selling Less of More
What happens when the bottlenecks that stand between supply and demand in our culture go away and everything becomes available to everyone? "The Long Tail" is a powerful new force in our economy: the rise of the niche. As the cost of reaching consumers drops dramatically, our markets are shifting from a one-size-fits-all model of mass appeal to one of unlimited variety for unique tastes. From supermarket shelves to advertising agencies, the ability to offer vast choice is changing everything, and causing us to rethink where our markets lie and how to get to them. Unlimited selection is revealing truths about what consumers want and how they want to get it, from DVDs at Netflix to songs on iTunes to advertising on Google. However, this is not just a virtue of online marketplaces; it is an example of an entirely new economic model for business, one that is just beginning to show its power. After a century of obsessing over the few products at the head of the demand curve, the new economics of distribution allow us to turn our focus to the many more products in the tail, which collectively can create a new market as big as the one we already know. The Long Tail is really about the economics of abundance. New efficiencies in distribution, manufacturing, and marketing are essentially resetting the definition of what's commercially viable across the board. If the 20th century was about hits, the 21st will be equally about niches.
The Economics of Internet Media references The Long Tail on 6/3/2019, 2:36:35 PM
Automated Media: An Institutional Theory Perspective on Algorithmic Media Production and Consumption cites The Long Tail on 6/3/2019, 5:43:16 PM
One of the key functions that algorithms perform in contemporary media consumption is to assist audiences in the process of navigating an increasingly complex and fragmented media environment. Central to this navigation process are the typically algorithmically driven search, recommendation, and content aggregation systems that facilitate searching for and selecting content in an environment of such extreme content abundance that technologically unaided forms of search and navigation are no longer practical or effective (Anderson, 2006). These algorithmically driven systems are, of course, central to search engines, social media platforms, and content aggregators such as Amazon, iTunes, YouTube, Pandora, and Netflix. To some extent, one could argue that content has become commodified, with the real value residing in the systems that users can employ to navigate through and select from the wealth of available content. cites The Long Tail on 6/3/2019, 5:43:26 PM