The long tail, a big idea powering the web, explained

Chris Anderson is a gamechanger. Here,he offers an easy-to-understand macro view of one of the chief economic principles powering the Web, the "Long Tail."

Hit-driven culture, whether in music or advertising, is giving way to something far more penetrating, a culture where the focus is shifting from "dozens of markets of millions, to millions of markets of dozens."

Anderson describes how it is now possible -- and profitable -- to serve even the tiniest niche markets. The result: more opportunity for market consumers and producers.

The presentation is only 18 minutes long. You’ll need Flash (software) if it doesn't load immediately, but the plug-in is free. Your effort will be rewarded with a deeper understanding of one of the key principles behind the success of the Web.

Chris Anderson is the editor-in-chief of Wired and the leading authority on the phenomenon. He maintains a web log covering his research.