Chris Anderson "nails it". This is a great post for all in the business of innovating the new environment where the Long Tail is involved.
I've personally been involved in the long tail world since my days involved in search going back to 1996 to now with blogging and podcasting. Chris hit it on the mark on his graphs. A must read to all newbies trying to figure out what the Long Tail means and how to commercialize new media formats and content.
Pictures are worth a thousand words... I will do a podcast on this on PodTech.Net in June