Final answer:
In the Netflix case, 'Long Tail' refers to a vast selection of content, allowing Netflix to serve niche markets as well as mainstream audiences.
Step-by-step explanation:
In the context of the Netflix case, Long Tail refers to an extremely large selection of content or products. This concept describes how businesses with large inventories, such as Netflix's vast array of streaming content, can cater to niche markets in addition to mainstream audiences. Rather than just focusing on the most popular titles, Netflix's substantial catalog allows viewers with diverse preferences to find something that suits their tastes, contributing to the growth in subscriber numbers and potentially giving Netflix a competitive advantage over traditional media with limited shelf space.