Wasabi Technologies launched the findings of its world cloud storage index, centered on the media and leisure (M&E) trade. The survey, commissioned by Wasabi Technologies and performed by Vanson Bourne, seeks to uncover the altering attitudes amongst IT leaders in M&E organisations towards public cloud storage adoption, the elements that affect storage shopping for selections, and the highest priorities in the case of finances, use instances, security, and cloud knowledge migration.

Survey findings highlighted that, whereas M&E organisations are nonetheless comparatively new to cloud storage (69% of respondents had been utilizing cloud storage for 3 years or much less), public cloud storage use is on the rise, with 89% of respondents trying to improve (74%) or keep (15%) their cloud companies. M&E respondents mentioned they allocate 13.9% of their IT budgets to public cloud storage companies, on common. However, overdrawn budgets attributable to hidden charges, alongside cybersecurity and data loss issues, stay problematic for M&E organisations.

“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 organisations and geographically distributed teams,” mentioned Andrew Smith, senior supervisor of technique and market intelligence at Wasabi Technologies, and a former IDC analyst. “While complex fee structures and cybersecurity concerns remain obstacles for many M&E organisations, 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.”

Complex charges are a significant problem for M&E organisations globally

• More than half of M&E organisations exceeded budgeted spend on cloud storage companies within the final yr.
• Nearly half (49%) of M&E organisations’ public cloud storage invoice was comprised of charges in 2022, with the opposite half going to precise storage capability used.
• Understanding the prices and costs related to cloud utilization was cited because the primary cloud migration problem for M&E organisations.
• M&E organisations rely closely on knowledge entry, egress and ingress, a key motive why M&E respondents indicated the very best prevalence of API name charges in comparison with the worldwide common.
• M&E respondents confirmed a really excessive prevalence of knowledge migration to the cloud, with 95% saying they migrated storage from on-premises to public cloud within the final yr.

M&E organisations are involved about cybersecurity and knowledge loss

• M&E respondents rising their public cloud storage budgets within the subsequent 12 months cited new knowledge safety, backup and restoration necessities as the highest motive driving the rise, in comparison with the worldwide common the place safety ranked third.
• Almost half (45%) of M&E organisations reported utilizing multiple public cloud supplier. Data safety necessities had been one of many high the explanation why M&E organisations had been selecting a multi-cloud technique, rating an in depth second (44%) to completely different shopping for centres throughout the organisation making their very own buy selections (47%).

The high three largest safety issues M&E organisations have with public cloud embody:

• Lack of native safety companies (42%)
• Lack of native backup, catastrophe and knowledge safety instruments and companies (39%)
• Lack of expertise with cloud platforms or satisfactory safety coaching (38%)

“Organisations in the Media and Entertainment industry are flocking to cloud storage as their digital assets need to be stored securely, cost-effectively and accessed quickly,” mentioned Whit Jackson, Vice President of Media and Entertainment at Wasabi. “Barriers around cost and security still concern M&E organisations, but with Wasabi hot cloud storage, the M&E industry can affordably store all of their content in the cloud with predictable pricing – from raw footage to finished product – with data securely archived yet immediately accessible at a moment’s notice.”