The hits keep on coming, despite The Long Tail
When bloggers aren't talking about themselves, they're slavering over the supposedly perilous state of the mainstream media. Wired editor Chris Anderson tossed them some red meat in a recent post offering detailed evidence of how TV, newspaper, and radio audiences are down as CD and DVD sales slip. For Anderson, this ought to be good news, since he's the author of The Long Tail, a book which predicts the decline of hits -- and the mass-media outlets that thrive on them -- as the Internet exponentially expands consumers' choices.
Anderson is careful to note, however, that hits aren't going away altogether. That's a wise caveat, given the latest news. For one thing, U2 singer Bono and his fellow investors in Elevation Partners just paid an estimated $250 million to $300 million for a stake in the publisher of Forbes -- a clear sign of confidence in the health of mass-market magazines. And for another, Anderson's book just made the top 10 in the New York Times bestseller list.
Apparently the decline of hits makes for one heck of a hit.
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