Content isn't always king on Wall Street

November 28, 2006 The old content versus distribution debate resurfaced Monday on Wall Street as Bear Stearns analyst Spencer Wang suggested that the much-discussed Long Tail in today's digital world means that "aggregation and context and not (necessarily) content are king." Here the Long Tail theory -- made popular by Chris Anderson's recent book -- argues that consumer demand moves from big hits to the more esoteric tale end of the spectrum of content offers. Overall, Viacom Inc. seems "best positioned" in this market thanks to its strong exposure to the middle of the entertainment supply chain, followed by Time Warner and the Walt Disney Co., with News Corp. having extra growth potential thanks to MySpace.

Subscribe to the Hollywood Reporter and see the entertainment industry from its best angle: the inside looking out. Complete access to real-time news and exclusive analysis that goes behind the scenes from film to television, home video to digital media.

   Subscribe now.