This article became a book by the same name published earlier this year, and I just discovered it on a recent visit to Second Life. A lot of IBMers are now alsoSecond Lifers, and I suspect it is just a matter of time before we are conductingour customer briefings there, and getting our year-end bonuses paid directly in Linden bucks.(Those of you not familiar with Second Life can watch this 3-minute video fromthe folks at Text100)
Anyways, the Long Tail describes the new economy of entertainment thanks to digitalstorage. Here are some of the key insights.
- In the past, entertainment was all about hits: hit songs, hit movies,hit novels, and this was primarily because of the economic realities restricted byphysical space. Chris writes: "An average movie theater will not show a film unless it can attract at least 1,500 people over a two-week run; that's essentially the rent for a screen. An average record store needs to sell at least two copies of a CD per year to make it worth carrying; that's the rent for a half inch of shelf space."
- Things have changed. To drive the point home, Robbie Vann-Adibe (CEO of eCast), poses the trick question"What percentage of the top 10,000 titles in any online media store (Netflix, iTunes, Amazon, or any other) will rent or sell at least once a month?" The answer will surprise you. Write down your guess first, then go read here. His digital jukeboxes are able to play from a list of150,000 songs, not the few hundred you'd find at the Tap Room which is rated as having the best jukebox in Tucson.
- The phenomenon is not just limited to music. "Take books," Chris writes, "The average Barnes & Noble carries 130,000 titles. Yet more than half of Amazon's book sales come from outside its top 130,000 titles. Consider the implication: If the Amazon statistics are any guide, the market for books that are not even sold in the average bookstore is larger than the market for those that are..."
This has incredible implications for the storage industry. For one, content providers are going to dig deep into their archives to digitize and deliver "long tail" offerings. If they don't have a deep archive, many will start to build one. Second, the need to search through that large volume of content will become more critical. Classifying and indexing with the appropriate tags and metadata will be an important task.
technorati tags: Chris Anderson, Wired, magazine, IBM, Secondlife, Linden bucks, Text100, Long Tail, Robbie+Vann-Adibe, eCast, NetFlix, iTunes, Amazon, Tap Room, Barnes Noble, deep, archive, metadata, tags