Many people (including Eric Schmidt in a submission that was posted earlier this week, although I've certainly heard it before) argue that the Internet follows more of a Zipf's Law distribution (http://en.wikipedia.org/wiki/Zipfs_law) than a "long tail". In other words, the bulk of the traffic and therefore the revenue is in the head. As a corollary, the Internet doesn't get rid of celebrities, it creates bigger celebrities.