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Imagine if prices declined the further you went down the Tail, with popularity (the market) effectively dictating pricing. All it would take is for the labels to lower the wholesale price for the vast majority of their content not in heavy rotation; even a two- or three-tiered pricing structure could work wonders. And because so much of that content is not available in record stores, the risk of channel conflict is greatly diminished. The lesson: Pull consumers down the tail with lower prices.

Grant’s wife Augusta noted at the time, “I am glad that I live in this age when every day — almost every hour — brings us some new inventions.”

Sputnik, the first Earth-orbiting satellite launched by Russia in 1957, inspired the development of satellite networks positioned well above the earth. The first United States broadcast over Telstar 1 in 1962 featured clips from a baseball game in Chicago, a news conference by President John F. Kennedy and a concert from the Mormon Tabernacle Choir. 

“We are not breathlessly smitten by the Internet, nor are we in any way underestimating its possibilities,” said Elder Jeffrey R. Holland, Church leader, in a 1997 speech. “We are just moving steadily, and we think wisely, to use it along with every other way we know to communicate with each other.” 

These days one witty Tweet, one clever blog post, one devastating video - forwarded to hundreds of friends at the click of a mouse - can snowball and kill a product or damage a company's share price.

It's a dramatic shift in consumer power. But what if companies could harness this power and turn it to their advantage?

At the most basic, these tools measure the volume of social media chatter. Researchers at Hewlett Packard showed that they can accurately predict a Hollywood movie's box office takings by counting how often it is mentioned on Twitter before it opens.

See It Now focused on a number of controversial issues in the 1950s, but it is best-remembered as the show that criticized McCarthyism and the Red Scare, contributing if not leading to the political downfall of Senator Joseph McCarthy. On March 9, 1954, Murrow, Friendly, and their news team produced a half-hour See It Now special entitled "A Report on Senator Joseph McCarthy".[9] Murrow used excerpts from McCarthy's own speeches and proclamations to criticize the senator and point out episodes where he had contradicted himself. Murrow knew full well that he was using the medium of television to attack a single man and expose him to nationwide scrutiny, and he was often quoted as having doubts about the methods he used for the report. Murrow and Friendly paid for their own newspaper advertisement for the program; they were not allowed to use CBS' money for the publicity campaign or even use the CBS logo. Nevertheless, the broadcast contributed to a nationwide backlash against McCarthy and is seen as a turning point in the history of television. It provoked tens of thousands of letters, telegrams and phone calls to CBS headquarters, running 15 to 1 in favor. In a retrospective produced for Biography, Friendly noted how truck drivers pulled up to Murrow on the street in subsequent days and shouted "Good show, Ed. Good show, Ed." Murrow offered McCarthy a chance to appear on See It Now to respond to the criticism. McCarthy accepted the invitation and made his appearance three weeks later,[10] but his rebuttal only served to further decrease his already fading popularity.[11] In the program following McCarthy's appearance, Murrow commented that the senator had "made no reference to any statements of fact that we made" and contested the personal attacks made by "the junior senator from Wisconsin" against himself.[12]