The economics maybe, but the political will is another story. The business that I work for will not even contemplate cloud based anything. We use expensive 500

The economics maybe, but the political will is another story. The business that I work for will not even contemplate cloud based anything. We use expensive 500gb tapes to take weekly backups of our entire site which are kept for 1 year. I'm not sure how many times the tapes can be overwritten but there would be a price-point for these archive disks that would make the tapes obsolete. It would also save a lot of space and therefore money as we are charged to store the bulky tapes off site.