The hit-driven economy that dominates our physical world is giving way to the multitude of niche markets of the on-line digerati. Has the iPod really killed the radio star and what is the 98 percent rule? Will we ever discuss the TV series 'Lost' around the water cooler ever again? Chris Anderson, editor-in-chief of Wired magazine, expands upon his original article that first appeared in Wired October 2004 and paddles in the shallow end of the digital economy now dubbed 'The Long Tail'.

The Theme

What happens when consumers are presented with unlimited choice; when the cost of distribution falls to fractions of a penny and when technology turns mass markets into millions of niches? We have the emergence of a new type of economy – the digital economy of the ‘Long Tail’. In his book, Chris Anderson explores this new economy and lays out, using thoughtful examples, where this is all going and what it means for anyone doing business online.

Chris Anderson is editor-in-chief of the prestigious Wired Magazine, a post he filled in 2001. The name of the book derives from that area of a typical sales demand curve referred to as the ‘Long Tail’. He first explored this idea in an article of the same name in Wired.

From Sears to Amazon

Chris Anderson quickly outlines the characteristics of Long Tail economics in the opening introduction. From here, subsequent chapters take us on a well thought-out journey as he explains the rise of the Sear’s catalogue to the dominance of Amazon, reinforcing his theme.

The Decline of the One Hit Wonders

A secondary theme throughout the book is the decline of the ‘Hit’ culture. As the consumption of entertainment comes under greater control of the consumer and the variety of choice increases, so the ‘Hit’ culture begins its steady decline. It wasn’t until I read this book that I realised how significant this was. Will the iPod really kill off the Radio Star?

Long Tail Rules

Chris explores a variety of online technologies and markets in his book, from Google advertising to Blogging and the implications to Long Tail economics. He writes with great authority, as you would expect from the editor-in-chief of Wired and provides his readers with insightful and well thought-out explanations of these online markets. The book culminates with a final chapter on the creation of a Long Tail business, outlined in the form of 9 rules.

For anyone contemplating business online, then this an important book. It will provide the online entrepreneur with the insight and understanding of emerging online markets.

The world in changing, find out why -Buy this book from Amazon.

Tetsou