Wired Editor Chris Anderson coined the term "The Long Tail" to describe how the net is causing the end of the mass mega-hits in all media and the opportunities for long term monetization that digital distribution create. Andreson suggests that it’s time for record labels and other media companies to look at new long term strategies for finding profits rather than the quick hits of yesteryear.
To prove his point that the hit era is ending Anderson analyzed RIAA data for gold and platinum album sales awards ad came up with this these revealing charts that show the dramatic decline in mega-sales awards in recent years..
