I know — it sounds like the title of a kids’ fairy tale, but Bear Stearns is an investment bank and they’s just published an interesting report on how the long tail phenomenon will affect the media business. In a nutshell, they conclude that “Aggregation and Context and (Not Necessarily) Content Are King”.

Actually, the report is a lot better than you might think from that headline. Among other things, it looks at the evolution of the TV cable industry as an example of a long tail development.