Day of the Longtail – This video gives a bit of an overview of the struggles the media and entertainment giants are having with the community of bloggers. The “Longtail” itself as a term has been around awhile and the statistical phenom probably since the beginning of time.
Wikipedia Has this:
The phrase The Long Tail, as a proper noun, was first coined by Chris Anderson. The concept drew in part from an influential essay by Clay Shirky, “Power Laws, Weblogs and Inequality” that noted that a relative handful of weblogs have many links going into them but “the long tail” of millions of weblogs may have only a handful of links going into them. Beginning in a series of speeches in early 2004 and culminating with the publication of a Wired magazine article in October 2004, Anderson described the effects of the long tail on current and future business models. Anderson later extended it into the book The Long Tail: Why the Future of Business is Selling Less of More (2006).