The rewards of the long tail

longtailThis semester I had to take a module in media management and one of the biggest things affecting it today is without a doubt the digital age. Unfortunately, I think the class failed terribly to address this development and in the midst of studying for the exam, I found a Economist.com podcast interview with Chris Anderson, editor-in-chief of Wired magazine, the best half-an-hour lesson on the future developments of the media market.

In essence, the changes in the media market can be explained by the long tail (see left), a demand curve for products. Mainstream media’s revenue currently mainly comes from a select group of products or hits such as the music industry earning most of their revenue from a pop star like Britney. In the new media landscape however, as costs and barrier in producing and distributing media decrease, the market can sustain a greater variety in products and creates niche markets such as indie music. Thus, in order to maximise revenue, media companies should go for volume instead of specialisation, offering greater variety to its consumers and thus earn the new media revenue too.

On another note, here are a list of great events coming up (the rewards of a long tail economy?) that I plan to attend for my own reference and so that people can find out about them too. Most of them are related to design and architecture because theSingapore Design Festival 2007 (coincidentally, similar colour scheme with this site!) and ArchiFest 2007 is happening these couple of weeks.

  • Signature Singapore… Old Forms, New Options | 6 Dec, 10am – 8pm |
    This one-day conference shall discuss and explore the notion of “Signature Singapore”. What makes Singapore unique from other world cities? What is Singapore’s signature urbanscape? How best could planners and the development industry contribute to strengthening Signature Singapore?
    <http://www.archifest.sg/web/fringeevents.html>
  • Singapore 1:1 Island | 17th Nov – 31st Mar | URA Centre
    A look at architecture in Singapore from 1965 onwards to tracks its economic and social progress.
    <http://www.ura.gov.sg/spore1_1/>
  • Screening of “Opera Jawa” by Garin Nugroho | 4th Dec, 730pm | National Museum
    As part of the Singapore International Film Festival Fundraiser, which has no main sponsor for the upcoming festival, this particular screening is a musical film inspired by the “The Abduction of Sita”, a classic found in the Ramayana. [Error corrected]
  • The Way of Asian Design | 30th Nov, Fri, 930am – 530pm | NTU ADM
    A 1-day Panel and Seminar on design from the Asian perspective
    Find out more >
  • Have you ever smell the rain | 20th – 30th Nov | Forth Art Gallery
    A 3rd solo painting exhibition by Tay Bee Aye. In this series of works Tay examines the notion of happiness and belief, questioning whether our senses are being corrupted, on how information are being process and use as a gauge to measure our happiness.
    <http://www.forth.sg/exhibition.htm>

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