ExampleProfessional photographers and highly skilled amateurs produce a large number of exceptional photographs that people find compelling. Everyone else also has a chance to produce an exceptional photograph, but it is far less likely on an individual basis.The graph above shows that professions produce a large number of exceptional photographs followed by a long tail of exceptional photographs produced by everyone else. The long tail stretches a great distance as there are billions of amateur photographers on the planet. Although professionals produce a good number of exceptional photographs, they are vastly outnumbered. As such, amateurs as a group produce more value from photography.
Business ModelLong tail is a common term for business models that open a market for everyone to supply an industry that had been previously dominated by firms, professionals or an elite. For example, if you set up a market for everyone to share and sell their photographs, such a market has potential to dominate the market for photos due to the large scale value produced by amateur photographers.
|Overview: Long Tail Distribution
A probability distribution that has a large number of occurrences that are far from the central part of the distribution.