Chris Fenton, Former President & GM of DMG, Joins Wasabi Advisory Board
BOSTON – June 28, 2018 – Wasabi, the hot cloud storage company, eagerly welcomes Chris Fenton, recent President & North American General Manager of Shenzhen-listed DMG, to their advisory board. The growing storage needs of the media and entertainment industry is estimated to top $11.1B annually in 2022, nearly double the current $5.6B. Wasabi delivers low-cost, reliable cloud storage at 6X the speed and 80% less than Amazon S3 and aims to be the ‘go-to’ storage solution for media and entertainment professionals.
Fenton has produced and/or supervised 20 films ranging from big budget franchises like Iron Man 3, Point Break and 47 Ronin to niche films like Looper, Waiting, Blockers and Chappaquiddick, grossing $2 Billion in worldwide box-office. During Fenton’s tenure, DMG grew from 35 employees to more than 800, with its value increasing from $100 million to a market cap of roughly $5 billion. Chris shares, “Wasabi is a simple-concept, high-growth tech company founded and run by the management team that built Carbonite into a billion dollar-plus company. Climbing aboard was a no-brainer for me.”
David Friend, CEO and Co-Founder of Wasabi, is no stranger to the Hollywood scene. At the start of his entrepreneurial career, David transformed the music industry with the creation of the music synthesizer company ARP. ARP forever changed the sound of rock music for bands like Led Zeppelin, Stevie Wonder and The Who. Most recently, Wasabi opened a new data center on the West Coast in Hillsboro, Oregon, expanding its connectivity options to include the One Wilshire Data Center in Los Angeles via Wasabi Direct Connect to specifically serve movie studios.
“The growth and need for cloud storage in the media and entertainment space is explosive, and Hollywood content creators are reluctant to store their valuable intellectual properties on AWS, the cloud-based services division of Amazon, as Amazon has become a top competitor for the studios,” says David Friend. “With the addition of Chris as an advisor, we now have a highly-respected media executive able to open doors for Wasabi. This will allow us to tap into decision makers in this sector and share how hot cloud storage dramatically changes the business model of media and entertainment businesses. We look forward to working with Chris for his invaluable insight into this burgeoning industry.”
“Fenton knows everyone in town, and he understands the content production supply chain from A to Z both domestically and internationally. He’s the perfect choice for Wasabi,” said William Sherak, President, Stereo D and Deluxe Post Production.
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