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The (95?=;(''+%,=+%=?+,?=84'$<(
Long
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Tail

was coined by
Chris Anderson
to describe a shift in
the media business from
selling a small number of “hit”
items in large volumes toward
selling a very large number of niche
items, each in relatively small quantities.
Anderson described how many infrequent sales
can produce aggregate revenues equivalent to or
even exceeding revenues produced by focusing on simple
“hit” products. software
with professional
Anderson believes three economic triggers gave results.
rise to this phenomenon in the media industry:
2. Democratization of distribution: The Internet 3. Falling search costs to connect supply with
1. Democratization of tools of production: Falling has made digital content distribution a commod- demand: The real challenge of selling niche content
technology costs gave individuals access to tools ity, and dramatically lowered inventory, commu- is fi nding interested potential buyers. Powerful
that were prohibitively expensive just a few years nications, and transaction costs, opening up new search and recommendation engines, user ratings,
ago. Millions of passionate amateurs can now markets for niche products. and communities of interest have made this
record music, produce short fi lms, and design much easier.

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