Two related links:

http://blogs.zdnet.com/ITFacts/?p=11434
http://online.wsj.com/public/article/SB115447712983624018-FL_lppTZciifs_1jNmqUXbemyWg_20070801.html?mod=rss_free

• The first shows that the top 10% of the content on Youtube accounts for 70% of their traffic. It would be interesting to know what % is copyrighted.
• The second makes the point that most of the profits of online biz still comes from "hits", not from the "long tail".

These don't invalidate the rising importance of the long tail, but they do refute the "strong" version that the long tail is more important than the hits, or that hits don't matter anymore.