@Jeffreyrdiamond, I believe the article is referring to the storage requirement of the "industry" not that of end consumers. So you have to multiply he figure you have by at least 1000's of movies and 100's of distributors, which gives you the Petabytes and Exabytes requirements.
Susan, that is indeed the biggest single driver of storage growth. There are vast amounts of analog content that will vanish if they are converted into digital formats as the media they are stored on ages. However, both the costs of conversion and the costs to retain digital content for the long term are going down. In fact from my calculations about 40% of the cost of storing 1 PB for 20 years will be in the first year as the costs of storage decrease with time. Hopefully this will encourage the conversion and preservation of more digital content and our cultural, historical and personal heritage.
Thanks for the story, Rick. It will be exciting to see what happens with this in the near future. From the report: "The single biggest application (by storage capacity) for digital storage in the next several years as well as one of the most challenging is the digital conversion of film, video tape and other analog formats" I hope this means more archival film content will be preserved and available to the public, as long as there is the will (and money) to preserve older content.
It's not just Hollywood writing nice big checks to hard drive makers these days. Intel said recently that most of the multi-billion-dollar boom in cold storage for big data centers for folks like Facebok and Google is going to hard drives.
Much of it to hold all the personal pictures i post ;-)