Media & Entertainment Organisations Flock to the Cloud but Cite API Fee Challenges and Cybersecurity as Key Concerns
Wasabi Technologies is today releasing the findings of its global cloud storage index, focused on the media and entertainment (M&E) industry. The survey, commissioned by Wasabi Technologies and conducted by Vanson Bourne, seeks to uncover the changing attitudes amongst IT leaders in M&E organisations toward public cloud storage adoption, the factors that influence storage buying decisions, and the top priorities when it comes to budget, use cases, security, and cloud data migration.
Survey findings highlighted that, while M&E organisations are still relatively new to cloud storage (69% of respondents 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. M&E respondents said they allocate 13.9% of the their IT budgets to public cloud storage services, on average. However, overdrawn budgets due to hidden fees, alongside cybersecurity and data loss concerns, remain 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 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 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 fees are a major challenge for M&E organisations globally
- More than half of M&E organisations exceeded budgeted spend on cloud storage services in the last year.
- Nearly half (49%) of M&E organisations’ public cloud storage bill was comprised of fees in 2022, with the other half going to actual storage capacity used.
- Understanding the costs and fees associated with cloud usage was cited as the number one cloud migration challenge for M&E organisations.
- M&E organisations rely heavily on data access, egress and ingress, a key reason why M&E respondents indicated the highest prevalence of API call fees compared to the global average.
- M&E respondents showed a very high prevalence of data migration to cloud, with 95% saying they migrated storage from on-premises to public cloud in the last year.
M&E organisations are concerned about cybersecurity and data loss
- M&E respondents increasing their public cloud storage budgets in the next 12 months cited new data security, backup and recovery requirements as the top reason driving the increase, compared to the global average where security ranked third.
- Almost half (45%) of M&E organisations reported using more than one public cloud provider. Data security requirements were one of the top reasons why M&E organisations were choosing a multi-cloud strategy, ranking a close second (44%) to different buying centres within the organisation making their own purchase decisions (47%).
The top three biggest security concerns M&E organisations have with public cloud include:
- Lack of native security services (42%)
- Lack of native backup, disaster and data protection tools and services (39%)
- Lack of experience with cloud platform or adequate security training (38%)
“Organizations 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,” said Whit Jackson, Vice President of Media and Entertainment at Wasabi. "Barriers around cost and security still concern M&E organizations, 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."
Wasabi commissioned the independent market research agency Vanson Bourne to conduct research into cloud storage. The study surveyed 1,000 IT decision-makers who had at least some involvement in or responsibility for public cloud storage purchases in their organisation.
The research took place in November and December 2022 from organisations with more than 100 employees across all public and private sectors. All interviews were conducted using a rigorous multi-level screening process to ensure that only suitable candidates were given the opportunity to participate.
This report focuses on the subset of respondents in the media & entertainment industry. Their responses illustrate their vertical’s practices around the use of public cloud storage and this report will reference these responses in context of the range of industries surveyed in the full Cloud Storage Index Report.
About Wasabi Technologies
Wasabi provides simple and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an unlimited amount of data with no complex tiers or egress or API fees, delivering predictable costs that save money and industry leading security and performance businesses can count on. Trusted by customers worldwide, Wasabi has been recognized as one of technology’s fastest-growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi is a privately held company based in Boston. Wasabi is a Proud Partner of the Boston Red Sox, and the Official Cloud Storage Partner of Liverpool Football Club and the Boston Bruins.
Follow and connect with Wasabi on Linkedin, Twitter, Facebook, Instagram, and The Bucket.
About Vanson Bourne
Vanson Bourne is an independent specialist in market research for the technology sector. Their reputation for robust and credible research-based analysis is founded upon rigorous research principles and their ability to seek the opinions of senior decision makers across technical and business functions, in all business sectors and all major markets.
For more information, visit: https://www.vansonbourne.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230523005049/en/
+44 7491 992512
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kenvue to Participate in the Deutsche Bank dbAccess Global Consumer Conference on June 8, 202331.5.2023 14:00:00 EEST | Press release
Kenvue Inc. (NYSE: KVUE) (“Kenvue”), the world’s largest pure-play consumer health company by revenue, today announced the company’s participation in Deutsche Bank’s dbAccess Global Consumer Conference 2023 in Paris. Chief Executive Officer and Director, Thibaut Mongon, and Chief Financial Officer, Paul Ruh, will participate in a fireside chat on Thursday, June 8, 2023, at 12:30 p.m. Central European Summer Time (6:30 a.m. ET). A live webcast of the session will be available at https://investors.kenvue.com and a replay will be available on the website following the event. About Kenvue Kenvue is the world’s largest pure-play consumer health company by revenue. Built on more than a century of heritage and propelled forward by science, our iconic brands — including Aveeno®, BAND-AID® Brand Adhesive Bandages, Johnson’s®, Listerine®, Neutrogena®, Tylenol® and Zyrtec® — are recommended by health care professionals and can be trusted by consumers who use our products to improve their daily li
The LYCRA Company’s Sustainability Director Joins Panel Discussion at the United Nations Conscious Fashion and Lifestyle Network Annual Meeting31.5.2023 12:00:00 EEST | Press release
The LYCRA Company, a global leader in developing innovative and sustainable fiber and technology solutions for the apparel and personal care industries, announced today that it is a supporting partner of the United Nations Conscious Fashion and Lifestyle Network Annual Meeting on June 1. The company’s sustainability director, Jean Hegedus, will be a panelist at the meeting taking place at the United Nations Headquarters in New York City that will bring together media, industry stakeholders, and United Nations representatives to highlight actions, solutions, and progress from the fashion and lifestyle sectors to advance knowledge and strengthen engagement of the Sustainable Development Goals. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230531005027/en/ The LYCRA Company’s sustainability director, Jean Hegedus, joins a panel discussion at the United Nations Conscious Fashion and Lifestyle Network Annual Meeting, which takes
Brussels Signal: New Media Outlet Promises to Shake Up EU Coverage31.5.2023 11:03:00 EEST | Press release
Digital publisher Remedia Europe is preparing a groundbreaking news outlet, Brussels Signal , that promises to provide fresh and candid coverage of EU affairs and the issues that matter most to the citizens of Europe. Brussels Signal will deliver rigorous reporting and analysis of the European Union. The news outlet aims to shake up the status quo by providing insightful and informed journalism that challenges prevailing ideas and policies, demands genuine accountability from decision-makers, and counters the marginalisation of dissenting voices on the issues facing Europe today. An early version of Brussels Signal opens May 31 with an invitation to join a live event with the new editors. Other features of the news outlet – including video content and newsletters – will roll out in the coming weeks, with events coming this autumn at the Brussels Signal’s purpose-built studio in the heart of the European Quarter of Brussels. The new media brand emerges at a time when the EU faces intern
Norwegian ISP Altibox chooses Alinto's secure email platform to provide messaging services to its clients31.5.2023 11:00:00 EEST | Press release
Norwegian ISP Altibox has decided to outsource its email platform to Alinto, with the aim of modernising its messaging services for 180 000 clients in the Nordics. The services provided are based on the SOGomail server and the Cleanmail security service, hosted by Alinto. This move happens a few months after the takeover of the SOGo open-source project by Alinto. It confirms the editors’ ability to address projects on an international scale and cover the whole email chain with GDPR-compliant solutions. Modernisation of an email platform used by 180 000 clients Until 2022, Altibox had a messaging platform built and operated in-house. As that platform started to require extensive maintenance operations, Altibox had to move to a new solution. "We had two options : discontinue the service and delete all the emails – which was not acceptable from a client standpoint, or outsource our email services as we did not have any internal resources to create a new solution”, Marius Ekeland explains.
MDS Global Launches an AI-powered Marketing Decision Intelligence Platform “MDS DecisionAI” That Enables Telcos to Reduce Churn and Increase Revenues31.5.2023 09:22:00 EEST | Press release
Today, MDS Global, a leading provider of converged B2B/B2C billing and BSS solutions, has launched MDS DecisionAI, a new marketing decision intelligence platform that leverages the power of artificial intelligence to provide the critical insight ambitious MNOs, MVNOs, sub-brands and fixed line operators need to grow and outperform the competition. MDS DecisionAI provides a full suite of telecoms specific AI modules including forecasting, churn, propensity models, and marketing and media mix analysis, that will help brands to optimise their marketing and commercial strategy. It enables them to identify monetisation opportunities and blind spots so they can make interventions sooner. As a result, operators will be able to maximise yield and revenue, for example by predicting churn and identifying a customer’s propensity to consider other products offered in a cross-sell campaign, or through better-informed proposition development. As part of MDS Global’s commitment to driving profitable
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom