As reported by Wasabi, media and entertainment (M&E) organizations are swiftly resorting to cloud storage to improve their security procedures.
While M&E organizations are still fairly new to cloud storage (69% had been using cloud storage for three years or less), public cloud storage use is on the rise, with 89% of respondents looking to increase (74%) or maintain (15%) their cloud services.
On average, M&E respondents reported they spend 13.9% of their IT spending on public cloud storage services. Overdrawn budgets due to hidden fees, as well as cybersecurity and data loss worries, continue to be issued for M&E organizations.
“The media and entertainment industry is a key vertical for cloud storage services, driven by the need for accessibility to large media files among multiple organizations and geographically distributed teams,” said Andrew Smith, senior manager of strategy and market intelligence at Wasabi Technologies, and a former IDC analyst.
“While complex fee structures and cybersecurity concerns remain obstacles for many M&E organizations, planned increases in cloud storage budgeting over the next year, combined with a very high prevalence of storage migration from on-premises to cloud; clearly shows the M&E industry is embracing and growing their cloud storage use year on year,” concluded Smith.
In the previous year, more than half of M&
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