Here's some serious long-tail digital media.
"Thousands of producers whose programming would never make it into prime time but who have very dedicated small audiences are moving online. It's a phenomenon that could be called slivercasting."
Examples include sail.tv, vegtv.com, and programming on "poker, bicycling, lacrosse, photography, fine wine, horror films, obscure sitcoms and Japanese anime. There is also a growing market for Webcasts of local news and entertainment from every country and in every language, aimed at expatriates" Most are early stage, and working on a subscription model.
http://www.nytimes.com/2006/03/12/business/yourmoney/12sliver.html?th&emc=th. The article was on March 12 - it's gone to Times Select (I still have a copy).
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