Cats dating video
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Search boxes, shared content and algorithmically derived recommendations allow consumers to find and explore very specific genres, which would not have been possible for TV or film previously.For example, people in one country who enjoy listening to folk music from another country were unlikely to constitute a big enough audience to warrant radio stations dedicating content to that genre.
The theorem was originally used to help understand why cities that produced lots of a particular good, such as apples in Seattle, appear to have lower-quality apples than somewhere that imports apples, such as New York. The answer lies in transport costs., a TV series that began in 1989 and was syndicated globally, would regularly feature sections on animals doing funny things in front of home video cameras. At the time of writing, You Tube returns around 93m results for cat videos—and the existence of a whole festival devoted to online cat videos suggests that the market is not insignificant.As an economist waiting for their econometric code to finish running or for the ink to dry on their latest algebraic derivation, one might wonder why cat videos become so popular (see the box). There are potentially some psychological reasons for cats’ popularity on the Internet.However, the lower cost of production and distribution, as well as search and automated recommendations, now mean that previously unviable markets such as this may be able to thrive.These technologies are not just being harnessed in order to match makers of cat videos with their viewers.Adding 5 cents to the cost of all apples in New York means a good apple costs 15 cents and a mediocre apple costs 10 cents.
Hence a good apple in New York is worth one and a half mediocre apples in terms of cost rather than the two it is worth in Seattle. The intuition behind this finding is that when you have significant fixed costs, it is more profitable to export the higher-quality produce and consume the lower-quality produce locally, assuming tastes and preferences are the same in both places.
Instead of paying for a narrower set of curated content, consumers now have access to a much wider range of user-generated content funded by advertising revenue.
In particular, the information generated about who is watching cat videos enables content creators to prove to advertisers the value of their specific audience.
If, in Seattle, a good apple costs 10 cents and a mediocre apple costs 5 cents, the cost of a good apple is equivalent to the cost of two mediocre ones.
However, in New York it costs an extra 5 cents to transport an apple from Seattle, regardless of whether it is good or mediocre.
Creators of successful cat videos are incentivised to produce content—from the feedback they get from their fans, the intrinsic creative reward, and the different revenue streams that may result.